Financial guru Robert Kiyosaki has ignited the crypto community with his latest price prediction, claiming that bitcoin will reach $100,000 by June 2024. However, experts advise caution and remind investors of the inherent volatility and uncertainty surrounding such forecasts.
Bold prediction, familiar voice
Kiyosaki, author of the best-selling book “Rich Dad, Poor Dad,” is no stranger to bold pronouncements about bitcoin. He has long been a strong proponent of the cryptocurrency, previously predicting a price of $120,000 by the end of 2024 and a staggering $500,000 by 2025. This latest claim of a surge in June has sent ripples across the crypto space, with fans and skeptics alike weighing in.
bitcoin to $100K by June 2024.
—Robert Kiyosaki (@theRealKiyosaki) February 18, 2024
Hedging bets on inflation
Kiyosaki's reasoning hinges on cryptocurrency's potential as a hedge against inflation and economic instability. He believes investors will flock to the digital asset seeking refuge from rising prices and potential market crashes, driving the price higher.
This viewpoint aligns with his broader philosophy of financial preparedness and asset diversification, which emphasizes alternative investments such as gold, silver, and, of course, bitcoin” target=”_blank” rel=”noopener nofollow”>bitcoin.
Meanwhile, he tweeted a few days earlier, saying he prefers to trust gold, silver, and bitcoin rather than the Federal Reserve. Robert has consistently expressed his disapproval of the Federal Reserve and his opinion on how it is ruining the American economy.
Instead of trusting the Federal Reserve, I prefer to trust gold, silver and bitcoin.
—Robert Kiyosaki (@theRealKiyosaki) February 15, 2024
bitcoin: expert skepticism, market reality
While Kiyosaki's predictions often attract attention, some financial experts advise caution. The cryptocurrency market remains notoriously volatile. Furthermore, past performance is no guarantee of future results and unforeseen events can significantly affect the trajectory of the market.
btc seven-day price action. Source: Coingecko
What others say
In other developments, several people and organizations have suggested that bitcoin could reach $100,000, although specific timeframes vary. Frank Holmes, CEO of HIVE Digital Technologies, anticipates a doubling of the price of the king coin in the next 12 months tobitcoin-reach-100k/” target=”_blank” rel=”noopener nofollow”> 4 times its current value.
Matt Hougan, chief investment officer at Bitwise, expects bitcoin to experience a multi-year bull market and possibly hit new all-time highs in 2024.
Additionally, Cathie Wood, CEO of Ark Invest, has projected that bitcoin will reach $1.48 million by 2030, although this figure does not specifically address a milestone of $100,000 in 2024.
BTCUSD currently trading at $52,388 on the daily chart: TradingView.com
Standard Chartered has reiterated a previous prediction that the crypto asset could reach $100,000 by the end of 2024.
Related Reading: Is btc Headed for a Shakeup? Price-driven changes raise questions about future of miners
Matrixport, a crypto financial services company, has estimated that bitcoin could reach $125,000 by the end of 2024.
These estimates indicate that there is considerable optimism among industry leaders regarding bitcoin's potential to reach a six-figure valuation; However, no individual or organization definitively speaks for the entire industry.
Featured image from Adobe Stock, TradingView chart
