Rich Dad Poor Dad author Robert Kiyosaki hasn’t been shy about telling the world his support for bitcoin, and the financial writer is out again to reiterate that support. This time around, Kiyosaki paints an incredibly bullish account of the digital asset over the next few years.
Bitcoin will reach $500,000 in two years
In a recent tweet, Kiyosaki told his more than 2.3 million Twitter followers that he expects Bitcoin to reach $500,000 in the next two years. The author highlights this at a time when markets are left uncertain by not knowing what the Federal Reserve will do to curb inflation.
Kiyosaki explained that he expects the price of the digital asset to actually reach $500,000 by 2025 because the Federal Reserve will actually continue printing more money. He said previously that the decline in confidence in the US dollar will be the driver behind this rally and repeated it again.
A giant crash is coming. Depression is possible. The Fed was forced to print billions in counterfeit money. By 2025, gold has gone to $5,000, silver at $500, and bitcoin at $500,000. Why? Because faith in US dollars, fake money, will be destroyed. Gold and silver money gods. $bitcoin. takes care.
– Robert Kiyosaki (@theRealKiyosaki) February 13, 2023
According to the writer, while Bitcoin will reach $500,000, other asset classes such as gold and silver will reach $5,000 and $500, respectively, in the same year. He refers to Bitcoin as “the people’s dollar” at a time when he predicts a massive crash and even depression.
How does BTC work in the short term?
Kiyosaki’s long-term outlook ranges but for now, Bitcoin is still struggling to hold its value. The digital asset has already lost its footing above $23,000 last week and is entering the new week in the red, and it doesn’t seem like it’s getting any better.
In the early hours of Monday, the digital asset completed its first weekly cross with death which the analysts represented Benjamin Quinn posted about. This indicator is usually bearish, so the death cross triggered a level of fear in the market.
BTC sees first weekly death cross | Source: Twitter
With the death cross confirmed, BTC is already seeing a downside, as it dropped to the $21,600 level. Further decline is expected from this point, but that remains to be seen as investor sentiment remains at a good neutral point.
For now, all eyes are on the CPI data expected to be released on Tuesday. If they come out as good as the January numbers, that could negate the death cross, which leads to more bullishness for the digital asset.
Bitcoin is currently trading at $21,627 at the time of writing. It fell by 1.28% in the last 24 hours and saw losses of 5.3% in the last seven days.
BTC price struggles at $21,600 as death cross is triggered | Source: BTCUSD on TradingView.com