As a measure against financial instability, Bitcoin (BTC) advocate and popular author of “Rich Dad Poor Dad,” Robert Kiyosaki, has once again made a bold prediction about the future price trajectory of the leading cryptocurrency. The famous author tripled his last Bitcoin prediction.
Revised His Last Prediction to $300,000
Following Bitcoin’s recent surge to an all-time high of $69,200, Kiyosaki revised his prediction, suggesting that by the end of 2024, the leading cryptocurrency could rise to $300,000. Kiyosaki’s prediction comes at a time when Wall Street and leading cryptocurrency experts, including those from Standard Chartered, Fundstrat’s Tom Lee, and Michael van de Poppe, forecast that Bitcoin could reach at least $100,000 by 2025.
While Kiyosaki’s bullish stance on Bitcoin remains steady, his previous prediction that it could reach $100,000 by this June has been overshadowed by his latest forecast. Emphasizing the importance of taking action, Kiyosaki warns against procrastination and encourages individuals to invest in Bitcoin, even with as little as $500.
Agreeing with Kiyosaki’s optimistic predictions, Tether co-founder William Quigley shared similar expectations on CNBC’s ‘Squawk on the Street,’ suggesting that Bitcoin could rise to $300,000. Quigley attributed this potential price increase to the growing institutional and individual investments flowing into the cryptocurrency market.
Amid these rising predictions, popular analyst Michael van de Poppe suggests that Bitcoin may be nearing the end of its rally started before the block reward halving. While Poppe remains optimistic, he expects macroeconomic data to influence the ongoing rally this month and foresees Bitcoin’s price potentially reaching $70,000 amidst liquidity concerns.
Bitcoin’s Open Interest Continues to Rise
According to data from CoinGlass, the open interest in CME Bitcoin futures, which supports the upward momentum in the Bitcoin market, has reached a record level of $9.6 billion. This increase in open interest indicates a growing interest from institutional investors in Bitcoin derivatives. Moreover, as of March 7, the total open interest in Bitcoin futures across all platforms stands at $30.88 billion, demonstrating the extremely strong bullish trend surrounding the largest cryptocurrency.
With current data, Bitcoin is trading at $66,097, down 0.21% in the last 24 hours, with price fluctuations between $64,000 and $68,000. Meanwhile, a 40% drop in trading volume during the same period signals a temporary decline in investor interest, potentially indicating a consolidation phase before the rally may continue.
