Kiyosaki Urges Investors to ‘Buy Low and HODL’ as Bitcoin Falls Below $95,000

Bitcoin fell below $95,000 on Wednesday after losing nearly 8% over the past day. Amid increased volatility, investors appear to have positioned themselves cautiously.

But prominent entrepreneur and investor Robert Kiyosaki thinks the latest “crash” is fantastic. Here’s why:

Opportunity in crisis

Kiyosaki brought X to express his optimism about Bitcoin despite its recent price drop. Best known as the author of the best-selling personal finance book Rich Dad Poor Dad, Kiyosaki referred to the fall in cryptocurrency as “great news,” describing it as an opportunity to buy it at a lower price and portray it as “for sale”. .”

He reiterated his belief in the long-term “buy low and hold” investment strategy. Highlighting Bitcoin’s limited supply, Kiyosaki noted that there are less than two million BTC left to mine.

Kiyosaki has been a vocal proponent of Bitcoin and often advises investors to consider it an effective inflation hedge. In a recent New Year forecast, the financial guru predicted that Bitcoin could rise to $175,000-$350,000 by 2025. This optimistic outlook is not out of place as it closely matches the range predicted by several financial experts.

Bernstein analysts, for one, set a price target of $200,000 for Bitcoin by the end of 2025, reiterating an earlier statement. Their projection is part of a larger perspective on the crypto industry, which they believe is transitioning into an “infinite era” defined by widespread acceptance and integration with the global financial system.

“Temporary Pause”

Looking at the latest price action, QCP Capital stated that Bitcoin has pulled back towards the $95,000 support level following unexpectedly strong US labor market data. The JOLTS job vacancies report revealed 8.1 million vacancies, beating the forecast of 7.74 million.

This labor market resilience led to a sense of risk aversion, which in turn led to a sell-off in risky assets as long-term bond yields rose. The sharp drop in the price of Bitcoin led to liquidations totaling $206 million in just one hour.

The ripple effects of the selloff extended to stocks, with the Nasdaq and S&P 500 reflecting broader market weakness, trading near 21,200 and 5,900, respectively. Meanwhile, Bitcoin ETF inflows are down 94%, falling to $52.9 million from $987 million previously.

As markets await the Federal Open Market Committee (FOMC) and Non-Farm Payroll (NFP) reports later this week, these developments are expected to shape Bitcoin’s next moves. Despite the pullback, QCP Capital added that it expects this decline to be a temporary pause, with optimism for a bullish rebound.

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