Renowned ‘Rich Dad Poor Dad’ Author Robert Kiyosaki Foresees Bitcoin’s Ascent into Exhilarating ‘Banana’ Territory
Robert Kiyosaki, a vocal supporter of cryptocurrencies, is anticipating a significant surge in Bitcoin’s value, speculating it is on the brink of entering what is colloquially referred to as the “Banana Zone.”
The well-known author of ‘Rich Dad Poor Dad’ shared his optimistic outlook on the future of this digital asset in a recent post on Wednesday. Kiyosaki’s excitement is rooted in the predictions of former Goldman Sachs hedge fund manager Raoul Pal, who introduced the concept of the “Banana Zone” to characterize a phase of exuberant and substantial price escalation for the cryptocurrency.
Endorsing Raoul Pal’s Bitcoin ‘Banana Zone’ forecast, Kiyosaki’s endorsement followed after a recent interview by Scott Melker with Pal, a noted analyst known for his comprehensive market assessments. Pal highlighted the historical trend where assets like Bitcoin and other cryptocurrencies typically perform well in the final quarter of a US presidential election year.
Pal remarked, “The latter part of an election year is a true banana zone for all assets. It always is. So you know that you’ve got a very, very, very high probability that by autumn things are utterly ripping. I mean, how long before ETH, Bitcoin, [and] SOL surpass their recent peaks?”
Furthermore, Kiyosaki expressed his faith in Pal’s viewpoint, given the latter’s robust background at Goldman Sachs. The author attributed his decision to invest in Bitcoin to Pal’s persuasion, who advised him to purchase 30 Bitcoin when the price was at $6,000.
“In the current market, those same Bitcoin are valued around $60,000…and I have consistently increased my Bitcoin holdings…acquiring more every month,” Kiyosaki shared. “Thanks to Raoul’s insightful YouTube tutorials….I now comprehend why Bitcoin is stepping into ‘The Banana Zone.'”
Amid Kiyosaki’s optimistic outlook on entering the “Banana Zone,” Bitcoin observed a recent downturn, slipping below the $60,000 mark this week, marking one of the most substantial weekly declines in the crypto market this year. This decline coincided with news of a payout from the bankrupt Mt. Gox exchange, with expectations to release over $9 billion in Bitcoin and other assets by the end of October.
Additionally, sentiments among investors in Bitcoin spot ETFs have turned negative, witnessing outflows for seven consecutive days, totaling $174 million on June 24. Some analysts attribute this to concerns surrounding potential interest rate hikes by the Federal Reserve.
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