Kiyosaki’s forecast of BTC at $135,000 boosts the market


As the Bitcoin market continues its recovery, notable numbers and events suggest potential future moves. Currently trading at $30,635, Bitcoin sees a nice increase of almost 2.40% over 24 hours in a context of weakening of the American dollaras pointed out by the terrible warnings from economist Peter Schiff. He is alarmed by a looming recession and inflationary depression that could have significant implications for cryptocurrency.

For his part, Michael Saylora key player in the Bitcoin field, presented evidence supporting the profitability of its Bitcoin strategies. And, during this time,financial author Robert Kiyosaki foresees a meteoric trajectory for gold and expects for Bitcoin to reach the remarkable level of $135,000.

The US dollar falling: Schiff’s gloomy forecasts

Fearing an inflationary crisis, a prolonged recession and a possible collapse in demand for the American currency, economist Peter Schiff launched a serious warning. According to him, national debt and large budget deficits will fuel persistently high inflationwhich will cause a economic collapse even more serious and prolonged.

He takes issue with the Federal Reserve’s approach to fighting inflation, saying monetary expansion and fiscal measures implemented during the outbreak have made the situation worse. According to Schiff, when large buyers turn into sellers, demand for the US dollar (driven mainly by the purchase of Treasury bills) decreases, which decreases the value of the currency and increases Treasury rates. THE Schiff’s disturbing remarks against the US dollar could have given positive momentum to Bitcoin today, because dollar and Bitcoin are negatively correlated.

Saylor’s Bitcoin strategy: a testimony to profitability

In a recent social media post, Michael Saylor, founder and president of MicroStrategyunderlined the success of his company’s Bitcoin (BTC) strategy and declared his confidence in her. After the company accepted the Bitcoin as a Treasury Reserve Asset (TRA) in August 2020, Saylor published a chart showing the cryptocurrency performance in relation to several important financial assets.

Since then, the value of Bitcoin increased by 147%surpassing more conventional assets such as S&P 500, which rose 26%and the Nasdaq Composite, which rose 18%. Cash and bonds fell 19% and 24%, respectively., while even real gold fell 3%. According to Saylor, this comparative performance suggests that “Bitcoin is stronger”.

MicroStrategy has continually made proof of optimism towards Bitcoin and added another 5,445 chips, bringing his total holdings at 158,245 pieces, which is estimated at $4.68 billion. This announcement demonstrates the company’s commitment to Bitcoin as an asset, which may have increased BTC prices today.

Kiyosaki’s Take: Gold’s Rise and Bitcoin’s Potential Peak to $135,000

The renowned author Robert Kiyosakiof “Rich dad, poor dad”presented his Bitcoin, gold and silver price predictions. According to Kiyosaki, gold will soon exceed $2,100 and will ultimately reach $3,700. Additionally, he forecasts an increase in the price of silver from $23 to $68 per ounce.

According to Kiyosaki, the Bitcoin will first test $30,000 before finally rising to $135,000. It draws attention to the possible damage that inflation can cause to people who save with fiat currency, or what he calls “fake dollars”. Investments in precious metals and cryptocurrencies have long been supported by Kiyosaki, who calls gold, silver and Bitcoin “the people’s money” and “God’s money.” He has expressed doubts about the future of the US dollar and said cryptocurrencies were the way forward. This positive prediction from Kiyosaki may have contributed to the BTC price rise today.

Bitcoin Price Prediction

When analyzing the 4-hour chart of Bitcoin, several crucial price levels emerge. THE pivot point is $29,208 and the immediate resistance is $31,207. Further resistance levels can be found at $32,440 and $34,473. On the other hand, the immediate support lies at $29,174with additional support levels at $27,974 and $25,942.

From a technical point of view, Bitcoin Relative Strength Index (RSI) is remarkable, recorded at 79. An RSI value above 70 generally indicates an overbought market, suggesting a possible reversal or slight correction. Conversely, an RSI below 30 would signal an oversold market. With Bitcoin’s RSI currently in overbought territory, traders may approach future trades with some caution.

Bitcoin Price Chart – Source: Tradingview

There 50-day exponential moving average (EMA) further provides insight into the trajectory of the Bitcoin market, being today located at $29,037. When the price of Bitcoin exceeds this value, as currently, it means a short-term uptrend. Specific chart patterns further reinforce this bullish sentiment. In particular, the presence of so-called “Three White Soldiers” candlestick pattern and a breakout of the double top pattern above the $30,300 level which highlights a dominant buying trendwell supported by the EMA.

In conclusionthere Bitcoin trend appears bullish, especially if it remains above the crucial threshold of $30,300. As the days pass, market participants should be vigilant and monitor whether Bitcoin will challenge the aforementioned resistance levels or adjust based on more cautious market forces. But the resistance level of $32,440 could well be tested in the coming dayss.

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Disclaimer: This linked article presents the views of crypto industry stakeholders and is not editorial content on Cryptonews.com.





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