Bitcoin News Today: Kiyosaki Predicts Bitcoin Could Drop to $90K Amid August Curse

Renowned personal finance author Robert Kiyosaki has suggested that Bitcoin could experience a price drop to as low as $90,000, citing a recurring market pattern he refers to as the “August Curse.” In a post on X on July 17, Kiyosaki stated that a potential correction in August might create a strategic buying opportunity for long-term investors. He emphasized that a price decline to that level would not be a red flag but a chance to double his Bitcoin holdings [1].

At the time of Kiyosaki’s comments, Bitcoin was trading at $114,294, having recently pulled back from a low of $111,800. The broader cryptocurrency market showed mixed activity, with altcoins such as Cardano and XRP rising up to 8%. The total market capitalization hovered near $2.27 trillion [1]. Kiyosaki attributed the volatility to macroeconomic factors such as the U.S. national debt and the Federal Reserve’s monetary policies, rather than to any fundamental weakness in Bitcoin itself. He criticized the economic leadership in the U.S., calling it “incompetent,” and argued that Bitcoin’s performance reflects systemic economic issues [1].

Kiyosaki’s outlook aligns with historical trends. According to CoinGlass data, Bitcoin has averaged a return of just 1.5% in August over the past 12 years, with a median return of -7.49%. The month has recorded losses in eight of those years through 2024. Despite this, Kiyosaki remains optimistic about Bitcoin’s long-term potential, viewing potential price corrections as opportunities to accumulate the asset [1].

Market analysts have also weighed in on Bitcoin’s near-term prospects. Michael van de Poppe noted that if Bitcoin maintains its price above $114,755, it could target a new all-time high. However, a rejection below that level could pull the price down to $110,000. Similarly, Captain Faibik highlighted a crucial resistance level at $115,000 and suggested that a breakout above that could push Bitcoin toward $118,000 [1].

Despite the short-term volatility, Kiyosaki’s approach reflects a broader theme in the crypto space: the strategic value of buying during dips amid macroeconomic uncertainty. His position may influence retail investors, especially given his influence in the personal finance community and his large social media presence. By framing a potential crash as a long-term investment opportunity, he reinforces a “buy the dip” mentality that some adopt during turbulent market conditions [1].

The recent dip below $112,000 has already signaled growing bearish sentiment among investors. AInvest analysts have pointed to macroeconomic factors such as proposed U.S. tariffs and a cooling labor market as potential drivers of further price declines. However, they also noted that if Bitcoin holds above $100,000, the long-term bullish trend remains intact [1].

Kiyosaki’s readiness to increase his Bitcoin exposure amid a potential price correction underscores the confidence some investors have in the asset’s resilience. Whether the market follows the “August Curse” pattern or diverges from historical trends, his position highlights the strategic thinking that drives contrarian investment in the crypto space [1].

Source: [1] The Economic Times - https://economictimes.indiatimes.com/markets/cryptocurrency/crypto-news/rich-dad-poor-dad-author-robert-kiyosaki-says-hell-double-down-on-bitcoin-if-august-curse-sends-it-below-90k/articleshow/123095943.cms