Jakarta, Pintu News – Renowned investor and author of the book “Rich Dad Poor Dad”, Robert Kiyosaki, predicts a drop in the price of Bitcoin (BTC) this month, which he calls the “August Curse of Bitcoin”.
Nonetheless, Kiyosaki sees this as an opportunity to increase his Bitcoin (BTC) holdings. Will the August drop be a curse or a blessing?
August is known to be a difficult month for Bitcoin (BTC) price, often bringing significant losses despite strong previous trends. In a post on X, Robert Kiyosaki emphasized the potential decline in Bitcoin (BTC) price this August.
According to Kiyosaki, Bitcoin (BTC) could fall below $90,000 from its current price of around $114,000. However, he plans to double his position if Bitcoin (BTC) prices do plummet. “If the August Curse of Bitcoin happens and the price of Bitcoin plummets, I am ready to double my current position,” he wrote.
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August has historically been a challenging month for Bitcoin (BTC), often characterized by significant price drops. Data from CryptoRank shows that the average return for Bitcoin (BTC) in August was a decline of 7.87%.
In the early years such as 2011, 2014, and 2015, this cryptocurrency experienced a sharp decline in August. Even in relatively better years like 2022 and 2023, there were still notable declines of 14% and 11.2%. This trend has led some analysts to predict potential losses in August this year.
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Adding more speculation about a downturn in August, Bitcoin (BTC) and other cryptocurrencies have had a less than encouraging start to the month.
On August 1, crypto markets plummeted following a weak US jobs report, with the price of Bitcoin (BTC) dropping below $113,000. This market shock resulted in $726 million in liquidations, with long positions being heavily impacted.
However, the potential drop in Bitcoin (BTC) price this August could be a blessing in disguise, as Robert Kiyosaki says. With the drop providing more buying opportunities, this could ultimately benefit most investors.
While Robert Kiyosaki’s prediction of a Bitcoin (BTC) price drop may raise concerns, his view of this as an opportunity to strengthen positions could be a profitable strategy. Investors and market watchers may want to consider this approach when planning their investment strategies in these challenging months.
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