Financial guru Robert Kiyosaki has ignited the crypto community with his latest price prediction, claiming Bitcoin will hit $100,000 by June 2024. However, experts urge caution, reminding investors of the inherent volatility and uncertainty surrounding such forecasts.
Bold Prediction, Familiar Voice Kiyosaki, author of the bestselling “Rich Dad Poor Dad” book, is no stranger to bold pronouncements about Bitcoin. He has long been a vocal advocate for the cryptocurrency, previously predicting a $120,000 price tag by year-end 2024 and a staggering $500,000 by 2025. This latest claim for a June surge has sent ripples through the crypto space, with fans and skeptics alike weighing in.
BITCOIN to $100k by June 2024.
— Robert Kiyosaki (@theRealKiyosaki) February 18, 2024
Hedging Bets On Inflation Kiyosaki’s rationale hinges on the crypto’s potential as a hedge against inflation and economic instability. He believes investors will flock to the digital asset seeking refuge from rising prices and potential market meltdowns, driving the price upwards.
This viewpoint aligns with his broader philosophy of financial preparedness and asset diversification, which emphasizes alternative investments like gold, silver, and, of course, Bitcoin.
Meanwhile, he tweeted a few days earlier, saying, he prefers to trust gold, silver, and Bitcoin rather than the Fed.” Robert has consistently voiced his disapproval of the Fed and his thoughts on how they are ruining the US economy.
Rather than trust the Fed I prefer to trust gold, silver, and Bitcoin.
— Robert Kiyosaki (@theRealKiyosaki) February 15, 2024
Bitcoin: Expert Skepticism, Market Reality While Kiyosaki’s predictions often garner attention, some financial experts advise caution. The cryptocurrency market remains notoriously volatile. Additionally, past performance is not a guarantee of future results, and unforeseen events can significantly impact the market’s trajectory.
BTC seven-day price action. Source: Coingecko What Others Are Saying In other developments, several individuals and organizations have suggested that Bitcoin could reach $100,000, although specific timelines vary. Frank Holmes, executive chairman of HIVE Digital Technologies, anticipates a doubling of the king coin’s price over the next 12 months to 4x its current value.
Matt Hougan, Chief Investment Officer at Bitwise, expects Bitcoin to experience a multi-year bull market and possibly reach new all-time highs in 2024.
Additionally, Cathie Wood, CEO of Ark Invest, has projected Bitcoin reaching $1.48 million by 2030, although this figure does not specifically address a $100,000 milestone in 2024.
BTCUSD currently trading at $52,388 on the daily chart: TradingView.com Standard Chartered has reiterated an earlier prediction that the crypto asset could reach $100,000 by the end of 2024.
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Matrixport, a crypto financial services firm, has estimated that Bitcoin could reach $125,000 by the end of 2024.
These estimates indicate that there is considerable optimism among industry leaders regarding Bitcoin’s potential to achieve a six-figure valuation; however, no single individual or organization speaks definitively for the entire industry.
Featured image from Adobe Stock, chart from TradingView