The author of “Rich Dad, Poor Dad” is still bullish on Bitcoin but awaits a new bottom test

Yuri Molkhan

Robert Kiyosaki waits for Bitcoin to test a new bottom but remains bullish on BTC’s future

Robert Kiyosaki, an investor, entrepreneur, and author of a number of bestsellers on financial markets and financial literacy, including Rich Dad, Poor Dad, took to Twitter to comment on the current situation in the crypto market.

“I remain optimistic about the future of Bitcoin”

Kiyosaki tweeted that he still sees a bright future for Bitcoin. However, he is preparing for BTC to test a new bottom. It seems that Robert, who is invested in BTC as well as gold and silver according to his previous tweets, is primed for the leading crypto to drop as low as $20,000, $14,000 or even $9,000.

Kiyosaki says he’s still bullish on bitcoin long-term because he believes the Federal Reserve and US Treasury Department are corrupt organizations.

I remain optimistic about Bitcoin’s future. Waiting for the new floor to be tested. $20,000? $14,000? $11,000? $9,000? Why am I staying optimistic? Fed and Treasury are corrupt organizations. They will destroy themselves before they regain honesty, integrity and moral compass. Look out. Be careful.

— therealkiyosaki (@theRealKiyosaki) May 19, 2022

When the Fed printed more than $6 trillion in 2020 to help the US economy survive the pandemic, many blamed the US government for this massive quantitative easing, and Kiyosaki was among them.

To sue

He then posted several tweets about an impending USD collapse and urged everyone to buy bitcoin, silver and gold.

On Jan. 24, the author of “Rich Dad, Poor Dad” tweeted that if Bitcoin tested $20,000 support, he would go and get more of it. He also mentioned that he bought BTC on the dip when it fell to $9,000 and $6,000.

Peter Schiff surprised that bitcoin held up “so well.”

Prominent BTC opponent Peter Schiff tweeted yesterday that he was surprised that Bitcoin was “performing so well,” meaning the $30,000 zone.

However, Schiff reckons this is nothing more than a bull trap aimed at attracting more investors. Because of this, he warned bitcoiners not to get cocky when BTC is near $30,000.

So far, the flagship digital currency has managed to recover slightly above $30,000. However, Schiff believes that the bear wave would take it below $10,000 should it fall significantly below that level.

Overall, Schiff, despite being one of the harshest Bitcoin critics, tweets more about BTC than some popular Bitcoiners. At the end of 2020, he was recognized as a Bitcoin influencer and entered the top 10 list. His son Spencer is a bitcoiner, unlike Schiff who believes gold is far superior to BTC.

Another drawdown is possible: Bloomberg

On May 19, Bloomberg analysts released a forecast stating that another plunge for Bitcoin is possible soon. According to their chart, BTC has formed a “saucer top” pattern along with “head and shoulders” formed within it.

To avoid another price drop, Bitcoin needs to scale above $30,800 and be firmly anchored there, Bloomberg analysts believe.

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