The bearish market has a string of people making predictions for Bitcoin [BTC]† While some believe that Bitcoin has already bottomed out at $20K, a few others continue to believe that it is $13K for BTC. However, a new forecast shocked the community as it points to a drop to $1100.
The author of the book Rich Dad, Poor Dad, Robert Kiyosaki has made some noise before his predictions around the king’s coin. Once again, Kiyosaki caused a stir in the market with a rather controversial prediction. Earlier today, the author took to Twitter and revealed that he was waiting for Bitcoin to test $1,100. After this, he expects the world’s largest crypto to recover. The period that follows would be a good time for him to make his purchase, Kiyosaki confirmed.
I also pointed out that weak hands often stop when they lose. However, winners learn from their losses.
The newcomers entering the crypto market were terrified of the ongoing bear cycle. There is no doubt that many are even saying goodbye to the market. The possibility of Bitcoin testing another level below $10K would certainly register the exit of many more.
Kiyosaki’s previous tweets resurfaced. The author had predicted in May that Bitcoin would fall to $20K. He then speculated that BTC would bottom at $17K. I added that “crashes are the best times to get rich.”
The community further asked the author if he hadn’t bought Bitcoin during the previous crashes when he urged others to charge it.
Is Bitcoin Slipping Back Into the $20K Zone?
Bitcoin has had a rough few weeks. The bear’s dominance led the way, sending nearly every cryptocurrency to its annual lows. BTC has been vigorously trying to cross the $20K-$21K level. However, it is certainly more difficult than it looks, as the king’s coin has not received prominent support.
At the time of writing, Bitcoin continued to trade at $21,025.78 with a daily decline of 2 percent. This bearish look at the king’s coin further sparked speculation about how BTC was about to fall again to $20K.
In addition, if Kiyosaki’s prediction comes to pass, it highlighted the probability of many altcoins dropping to zero. The price of BTC and altcoins has shown a pattern of connectivity time and again. Therefore, if BTC drops to $1,100, other cryptocurrencies would undoubtedly fall lower.