Coin Edition -
- Robert Kiyosaki has announced his next significant target for Bitcoin.
- According to the renowned entrepreneur, Bitcoin will reach $100,000 by June 2024.
- Kiyosaki’s prediction comes amid a 5-day BTC price consolidation after a 2-week-long rally.
Robert Kiyosaki, the famous entrepreneur and author of the best-seller Rich Dad Poor Dad, has announced his next significant target for Bitcoin. In a recent post on X, the renowned investor predicted BTC will reach $100,000 by June 2024.
BITCOIN to $100k by June 2024.— Robert Kiyosaki (@theRealKiyosaki) February 18, 2024
Kiyosaki’s prediction comes amid a 5-day consolidation by the flagship crypto after a 2-week-long rally. Bitcoin bounced off a local low of $41,859 on February 1 and never looked back until it climbed above $52,000. The recent rally lasted throughout the first two weeks of February, with Bitcoin gaining 26%.
As seen on TradingView, Bitcoin has traded between $50,647 and $52,884 for the past five days. Many crypto analysts believe that by finding support above the $50,000 psychological level, Bitcoin has positioned itself for a classic bull run that could register a new all-time high (ATH).
Beyond reaching a new ATH, most analysts believe developing events suggest Bitcoin would aim for new milestones this year. The recent spot Bitcoin ETF (TSX:EBIT) approval by the U.S. Securities and Exchange Commission (SEC) is top among such events. The pioneer altcoin has recovered from its initial pullbacks following the ETF approval, staging a comeback that some analysts call a “rebalancing.”
With the ETF approvals on one side, the seasonal Bitcoin halving expected to happen in April represents the most significant factor behind Bitcoin’s bullish predictions. Hence, Kiyosaki’s $100,000 Bitcoin projection targets the post-halving rally. That is when many users believe BTC would discover a new frontier and lead the rest of the crypto market into a new era.
Bitcoin traded for $52,290 at the time of writing, according to data from TradingView. Scrutinizing the BTC/USD weekly chart shows that breaking above this region would open the way for Bitcoin to head toward the next resistance, around $60,000, moving the price closer to Kiyosaki’s predicted target.
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