Robert Kiyosaki, the author of the best-selling investment and finance book “Rich Dad Poor Dad,” revealed today in a post that he originally bought Bitcoin at a price of $6,000 per coin and currently holds 73 coins. He plans to increase his holdings to 100 coins within a year. Looking ahead to the future of Bitcoin, Lookonchain analyzed five indicators suggesting that Bitcoin’s price has not yet reached the peak of this bull market cycle.
(Previous Context: Rich Dad throws out “the most severe financial crisis” survival guide, Bitcoin not his top choice?)
(Background: Rich Dad: Trump and Harris can’t solve the US’s $35 trillion debt, only Bitcoin can save us)
Robert Kiyosaki, an outspoken critic of the rapid growth of U.S. national debt, argues that it will lead to hyperinflation of the dollar, eventually rendering it as worthless as “toilet paper.” He has repeatedly urged investors to turn to safer assets such as gold, silver, and Bitcoin.
Today, Robert Kiyosaki tweeted about his long-term investment strategy in Bitcoin, gold, and silver, sharing his initial costs and current holdings. He stated that many people, when faced with high prices for Bitcoin, gold, or silver, choose to wait and watch for prices to drop, which he refers to as “poor mindset.”
He believes that while prices will decline, relying solely on price will not make one wealthy; real wealth lies in the quantity of assets, not the price per unit. Kiyosaki mentioned that he initially purchased silver at $1 per ounce and now owns thousands of ounces; in terms of Bitcoin, he bought his first coin at $6,000 and continued to buy more even as the price rose to $76,000, now holding 73 Bitcoins (currently worth over $5.5 million).
Kiyosaki expressed his desire for Bitcoin to return to $10 per coin, but acknowledged that wishes alone do not lead to riches. He admitted that he hopes to increase his Bitcoin holdings to 100 coins within the next year (regardless of price), storing more of his income in Bitcoin, gold, and silver as true currencies.
This means Kiyosaki intends to acquire an additional 27 Bitcoins over the next year! Looking ahead to Bitcoin’s market outlook, on-chain data analysis account Lookonchain posted that after analyzing five indicators, results suggest that Bitcoin has not yet reached the peak of this bull market cycle.
1) Rainbow Chart
The Rainbow Chart is a long-term valuation tool that uses logarithmic growth curves to predict the potential future price direction of BTC. The new Bitcoin Rainbow2023 chart shows that BTC remains inexpensive.
2) Relative Strength Index (RSI)
RSI ≥ 70 indicates BTC is overbought and may soon decline; RSI ≤ 30 indicates BTC is oversold and may soon rise. Currently, the RSI is 70.38, and compared to past bull market data, BTC does not appear to have reached its peak.
3) 200-Week Moving Average Heatmap
The 200-week moving average heatmap shows the current price point as blue, indicating that the price top has not yet arrived, making it a time to hold and buy.
When the BTC price touches the orange line, BTC is undervalued, presenting a good buying opportunity. The current CVDD shows that BTC’s top does not appear to have arrived yet.
5) 2-Year MA Multiplier
The 2-year MA multiplier shows BTC’s price located between the red line and the green line. It has not yet touched the red line, indicating the market has not peaked.
It’s worth noting that on-chain data analysis often relies on past trends to speculate on the future, but the future may not replicate historical trajectories, and Bitcoin’s history is only 16 years old, providing limited historical data for analysis. Therefore, investors using these data for investment decisions should still practice risk management. 