Renowned author Robert Kiyosaki, famous for his series called “Rich Dad Poor Dad,” is again in the headlines as he takes a bullish stance on Bitcoin. Financial guru recently said he was planning to boost his bitcoin holdings after the cryptocurrency surpassed $100,000 for the first time, rising as high as $102,514 on Bitstamp exchange earlier today.
Bitcoin has achieved its highest level since December 19, capping a rapid recovery from the lows with a price that hit $91,315 on December 30. The cryptocurrency has surged over 12 percent over the past week, fueling hope among investors and analysts alike.
Kiyosaki is still betting on Bitcoin’s long term potential, even after earlier this month predicting that the digital currency could skyrocket to $350,000 by the end of the year. “Ultimately, this rally speaks to just how well BTC is being trusted as a hedge against economic risk,” he noted in an interview.
Major Spot Bitcoin ETF Inflows Signal Renewed Investor Interest
This latest Bitcoin rally comes after some major inflows into spot BTC exchange traded funds (ETFs). In the past week and a half, there has been consistent outflows, but on Monday these ETFs set inflows over $900 million. Glassnode analysts attribute the recent sell off to seasonal factors, and are now betting on more buyer activity from traditional investors.
The Coinbase Premium Index, a key indicator of the rally’s momentum, crossed its 14-day simple moving average for the first time in nearly a month three days ago. This kind of movement is historically a signal of a big big upward price trend. A similar pattern repeated itself at the end of the fourth quarter last year, when BTC soared from $69,000 to $108,000.
Meanwhile, headlines continue to be made by large scale investors, ie ‘whales’. Lookonchain noted that one BTC whale was hit hard with its portfolio swinging from $4 million profit to $3.75 million loss due to poorly managed position during Bitcoin’s recent correction. Yet, the rally goes on and the investor has clawed back $505,000 in unrealized profit.
It is the cryptocurrency market with its frenetic nature, fortunes could shift in days. Whales, meanwhile, can take advantage of the renewed optimism, according to analysts, who suggest the current rally may provide them with a chance to rebalance portfolios.
There is a watchful eye on Bitcoin’s next moves by market watchers. Optimism was high with Kiyosaki’s predicted bold $350,000 prediction and traditional investors entering the market. But, there are potential headwinds too, regulatory developments and macroeconomic conditions could influence Bitcoin’s trajectory, say experts.
It’s not a technical milestone, but a psychological one as it drives BTC into a new realm of upward price action, where for now $100,000 is a marker for the cryptocurrency’s status as an important actor in the global financial system. Whatever 2025 brings, all eyes will be on Bitcoin future and if they can find ways to push this momentum forward.
