Will Bitcoin Ever See $6,000 Again? Robert Kiyosaki Says He's Ready to Buy More

Bitcoin (BTC) prices rebounded at the $60,000 support level, offering a brief sigh of relief. However, technical indicators are raising a sense of déjà vu reminiscent of simulations of past major crashes, calling for heightened caution among investors.

Investor anxiety in the cryptocurrency market is rising, with the Crypto Fear & Greed Index dropping to extreme fear levels between 5 and 11 out of 100. Such "Extreme Fear" is uncommon except during major downturns, showing widespread unease among digital asset holders.

Bitcoin fell to about $60,000, its lowest price since late 2024, wiping out gains from early 2025. This drop led to a surge in "crypto capitulation" searches, up more than 400% on Google Trends, as retail investors search for signs of a market bottom.

Why Did This Happen?

On-chain data indicates healthy deleveraging, with over $15 billion in leveraged positions cleared, suggesting potential long-term accumulation.

Bitcoin's current risk and momentum environment mirrors Q2 2025 pre-bull run, with hedge funds significantly reducing their short positions.

The current downturn is less abrupt than in the past but is unfolding over a longer period. In 2018, Bitcoin plunged about 70% from its peak within eight weeks, whereas in the current cycle it has undergone roughly a 50% correction over 17 weeks.

How Did Markets React?

Strategy (MSTR), a company heavily invested in Bitcoin, reported a wider fourth-quarter loss as a turbulent period for digital assets caused the world's largest hoarder of bitcoin to record losses on its holdings.

Strategy reported a net loss of $12.4 billion, or $42.93 per share, for the three months ended December 31, compared with a loss of $670.8 million, or $3.03 per share, a year earlier.

Shares of the Michael Saylor-led company fell 1.3% in after-hours trading, extending heavy selling from earlier in the day. They are down nearly 30% this year.

What Are Analysts Watching Next?

Cryptocurrency analyst Benjamin Cowen analyzed the recent plunge of Bitcoin's Fear and Greed Index to as low as 9 in a video uploaded to his YouTube channel on February 7. Cowen highlighted that this extreme fear reading closely mirrors the level of 8 recorded on February 6, 2018. Even more striking, Bitcoin's bottom at that time was around $6,000—exactly one-tenth of the current $60,000 support—leading him to liken the market's movement to a simulation following a consistent rule.

Cowen cautioned that while this slower pace may reflect a more mature market, if the drawdown ultimately reaches 70%, Bitcoin could retreat to the $37,000–$38,000 range.

Robert Kiyosaki, a well-known financial commentator, anticipates silver hitting $200 as he continues to invest in both precious metals and Bitcoin, citing growing distrust in the dollar and rising U.S. debt.

Kiyosaki says he is ready to buy more Bitcoin as market conditions evolve. He views Bitcoin as a hedge against inflation and dollar devaluation, and his strategy reflects a long-term investment outlook.

The market is cautious. It is still unclear if $60,000 will hold as a "meaningful bottom" or if prices will drop further toward the $55,000 accumulation zone.

Bitcoin's price has been fluctuating around the $80,000 mark due to futures positioning. Leverage was built during a recent bounce, but funding rates turned supportive for long positions before forced selling took over, revealing pockets of fragility.

Bitcoin's current risk and momentum environment mirrors Q2 2025 pre-bull run, with hedge funds significantly reducing their short positions.

Bitcoin's long-term potential remains debated despite recent volatility. Analysts are watching for key indicators like whether the 20-week moving average is reclaimed and how institutional demand evolves.