Robert Kiyosaki, author of “Rich Dad Poor Dad,” revealed in a post today that he initially bought Bitcoin at $6,000 per coin and currently holds 73 coins. He plans to increase his holdings to 100 coins in a year. Looking ahead to Bitcoin’s market prospects, Lookonchain analyzes five indicators suggesting that Bitcoin’s price has not yet reached the peak of this bull market.
(Previous context: Rich Dad shares survival rules for “the worst financial crisis in history,” Bitcoin is not his first choice?)
(Background supplement: Rich Dad: Trump and Harris cannot solve the US’s $35 trillion debt, only Bitcoin can save it)
Robert Kiyosaki, the bestselling author of “Rich Dad Poor Dad,” has consistently criticized the rapid growth of U.S. national debt, which he believes will lead to hyperinflation of the dollar, ultimately rendering it as worthless as “toilet paper.” He has repeatedly urged investors to turn to safer assets like gold, silver, and Bitcoin.
Today, Robert Kiyosaki further tweeted about his long-term investment strategy in Bitcoin, gold, and silver, sharing his initial cost and current holdings in Bitcoin. Kiyosaki stated that many people choose to wait for the price to drop when faced with high prices of Bitcoin, gold, or silver, which he considers to be a “poor mindset.” He believes that while prices will fall, simply relying on price won’t make you wealthy; true wealth lies in the quantity of assets, not the price per unit. Kiyosaki mentioned that he initially bought silver at $1 per ounce and now owns thousands of ounces; regarding Bitcoin, he first bought at $6,000 per coin and continued to add when Bitcoin rose to $76,000, now holding 73 Bitcoins (currently valued at over $5.5 million).
Kiyosaki expressed his wish for Bitcoin to return to $10 per coin, but he acknowledged that wishes do not make people rich. He intends to increase his Bitcoin holdings to 100 coins within the next year (regardless of the price), storing more income in true currencies like Bitcoin, gold, and silver.
This implies that Robert Kiyosaki plans to acquire an additional 27 Bitcoins in the coming year! Looking ahead to Bitcoin’s market prospects, on-chain data analysis account Lookonchain posted that by analyzing five indicators, results suggest that Bitcoin has not yet reached the peak of this bull market.
1) Rainbow Chart
The Rainbow Chart is a long-term valuation tool that uses a logarithmic growth curve to predict the potential future price direction of BTC. The new Bitcoin Rainbow2023 chart shows BTC is still cheap.
2) Relative Strength Index (RSI)
RSI ≥ 70 indicates BTC is overbought and may soon decline; RSI ≤ 30 suggests BTC is oversold and may soon rise. The current RSI is 70.38, and compared to past bull markets, BTC does not seem to have reached its peak.
3) 200-Week Moving Average Heatmap
The 200-week moving average heatmap shows the current price point is blue, meaning the price top has not yet arrived, and it’s 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 the BTC top seems yet to be reached.
5) 2-Year MA Multiplier
The 2-Year MA Multiplier shows BTC’s price is in the middle between the red and green lines. It has not yet touched the red line, indicating the market has not peaked.
It’s worth noting that on-chain data analysis often bases future projections on past trends, but the future may not repeat historical patterns. Moreover, Bitcoin’s history is only 16 years long, so the historical data available for analysis is limited. Therefore, investors should still manage risks appropriately when referencing these data for investment decisions. 