Despite Bitcoin’s (BTC) recent disappointing results, author Robert Kiyosaki, known for ‘Rich Dad Poor Dad’, remains positive about the future of BTC. He predicts a strong rise for Bitcoin and refers to it as the ‘Banana Zone’. This term, introduced by Raoul Pal, describes a parabolic increase in value.
What is the ‘Banana Zone’?
Raoul Pal, a renowned economist and co-founder of Real Vision, calls the ‘Banana Zone’ a period of exponential value appreciation, characterized by sudden and significant price increases. Kiyosaki believes that Bitcoin will soon enter this phase. According to him, this is the period when everyone who does not have Bitcoin will say: “I wish I had bought something.” He shared this in an X-post on Wednesday.
Kiyosaki says he buys Bitcoin every month, regardless of market fluctuations. This investment technique is also known as dollar-cost averaging (DCA). He is convinced of Bitcoin’s long-term potential, partly because of its fundamental qualities compared to fiat currencies.
“Simply put: Bitcoin is rules-based money. The government’s fake fiat money is debt-based money. ‘Rules-based money’ makes you richer. The government’s fake ‘debt-based’ money makes you poorer. Brace yourself as Bitcoin soars into the ‘Banana Zone.’”
When will Bitcoin rise?
Raoul Pal spoke with Scott Melker last week and said that the fourth quarter of an election year often brings major market movements. Pal therefore expects Bitcoin to rise sharply in this period of 2024. He bases this expectation on historical market trends and the assumption that investors will continue to seek safe havens such as Bitcoin.
Despite recent volatility, Robert Kiyosaki remains bullish on Bitcoin. In addition to Bitcoin, he has been bullish on silver and gold for years, which he believes are all asset classes that offer protection against inflation.
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Source: https://newsbit.nl/kiyosaki-hou-je-vast-bitcoin-klaar-voor-de-bananen-zone/
