Robert Kiyosaki Warns Bitcoin Could Fall to $90,000 Amid ‘August Curse’

DOWNLOAD IPFS

Robert Kiyosaki, author of the bestselling personal finance book Rich Dad Poor Dad, has warned that Bitcoin may drop below $90,000 this month, citing a recurring trend he refers to as the “Bitcoin August Curse.” Despite the warning, Kiyosaki sees a potential price decline as a buying opportunity and said he plans to double his Bitcoin holdings if the drop occurs.

Kiyosaki shared his view on social media, noting that the seasonal trend of Bitcoin losses in August has played out in most of the past 12 years. Historical data shows the cryptocurrency has declined in eight out of those 12 Augusts, with an average drop of about 11.4 percent. Based on this pattern, he believes a deeper correction to $90,000 is possible from its current price of around $114,000.

The author attributed his concerns to broader U.S. economic challenges rather than Bitcoin’s fundamentals. He pointed to the country’s rising national debt and what he sees as poor fiscal management by the Federal Reserve and the Treasury as factors that could pressure markets.

While he expects short-term weakness, Kiyosaki remains bullish on Bitcoin’s long-term prospects. He described the potential dip as an opportunity for investors who believe in the asset’s role as a hedge against economic instability. His strategy aligns with a contrarian approach, using market pullbacks to accumulate more of the cryptocurrency.

Kiyosaki has been a vocal supporter of Bitcoin alongside other assets like gold and silver, often warning about risks in the broader financial system. His latest remarks come as Bitcoin continues to experience volatility, with institutional interest and macroeconomic factors influencing price movements.