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Bitcoin’s august curse: Robert Kiyosaki predicts massive crash

BY Marek Jendral
Robert Kiyosaki warns that Bitcoin will crash

Robert Kiyosaki has issued a warning, in which, according to a Finbold report, he predicts a possible drop of Bitcoin below $90,000 already this month. In a post on X, he refers to the so-called “Bitcoin August curse,” which could severely shake the crypto market.

Robert Kiyosaki warns of Bitcoin crash this month

Kiyosaki also added that in the event of a crash, he plans to double down on his investment:

If the August curse hits and Bitcoin collapses, I’m ready to double my position.

These comments come at a time when the market is recovering from recent fluctuations following the Federal Reserve’s decision to keep interest rates unchanged. At the time of the statement, Bitcoin was trading at approximately $113,800, representing a drop of about 7.50% from the all-time high of $123,000 reached in mid-July, according to data from TradingView.

  • August defines Bitcoin’s weak performance: The August curse of Bitcoin also has historical justification. According to data from CoinGlass, it is one of the least profitable months, with an average return of just +1.46%. Only June, with an average of –0.14%, and September, which historically ends with a loss of –3.77%, performed worse.

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Analysts remain calm

Robert Kiyosaki is not the only voice in the debate about Bitcoin’s future trajectory. Some analysts see the current correction as just a natural part of market development. According to an analyst known as Master Ananda on the TradingView platform, the current drop is part of a consolidation cycle that often precedes further growth.

He considers the support range between $100,000 and $110,000 to be crucial. According to him, the $100,000 level represents not only a technical but also a psychological threshold. If Bitcoin stays above this level, the trend remains bullish in the long term. Conversely, if Bitcoin closes a week or month below this threshold, it could indicate a change in market sentiment and open the door to further decline.

The biggest corrections in the current bullish cycle experienced by Bitcoin
The biggest corrections in the current bullish cycle experienced by Bitcoin. Source: tradingview.com

In this cycle, Bitcoin has seen a drop of more than 30% only twice since the beginning of 2023, while other pullbacks were moderate and short-lived. However, if Kiyosaki’s prediction materializes and Bitcoin drops to $90,000, it would represent a decline of approximately 27% from the all-time high of $123,000.

Such a decline would be comparable to the two previous corrections. Nevertheless, it’s important to note that 30% corrections during bull cycles are not uncommon and, from a historical perspective, typically do not signal the end of an uptrend.

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Marek Jendral

Written by

Marek Jendral