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Robert Kiyosaki Bullish on Bitcoin

Robert Kiyosaki predicts Bitcoin will rise further. Crypto entrepreneur Willy Woo discusses when Bitcoin's rally might end.

• Main Points:

  • Higher Prices Ahead: Kiyosaki believes Bitcoin's price will continue to rise.

  • Buying Strategy: Advises buying now for future profits.

  • Trust Issues: Kiyosaki invests in Bitcoin, Ethereum, and Solana due to distrust in U.S. fiscal policies.

• Detailed Insights:

  • Price Prediction: Kiyosaki predicts Bitcoin could reach $350,000 by mid-2024.

  • Market Participation: Willy Woo says Bitcoin’s rally will end when investment is widespread; only 4.7% of market capital is in Bitcoin.

  • Current Sentiment: Kiyosaki and Woo are bullish on Bitcoin’s potential for continued growth.

Related: Robert Kiyosaki: ‘The Easiest Way to Become a Millionaire’

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3 Reasons Why $65K Marks the Bottom for Bitcoin

Bitcoin shows strong support at $65,000 despite recent price drops. Here’s why this level might be the bottom:

1. Improved Regulatory Sentiment

   • Supportive Legislation: U.S. lawmakers are increasingly pro-crypto, taking significant steps to explore crypto asset regulations.

   • Growing Political Influence: Rising support in politics shows growing acceptance, despite Biden’s veto.

   • Banking Sector Incentives: Banks are motivated to offer crypto services, aligning with adoption trends.

2. Federal Reserve Policy Shifts

   • Pressure to Lower Rates: The Fed faces pressure to reduce rates due to persistent inflation and rising unemployment.

   • Market Reactions: Declining Treasury yields and rising S&P 500 indicate investor shift from cash.

   • Policy Adjustments: The Fed’s cautious approach signals potential policy shifts to address economic concerns.

3. Resilient Bitcoin Derivatives

   • Stable Metrics: Despite an 8.5% price drop, Bitcoin derivatives remained stable.

   • Futures Premium: The 2-month futures premium stayed above 10%, indicating market confidence.

Related: Can Bitcoin Whales Protect BTC Price from a New $48K Downside Target?

El Salvador’s VP: Bitcoin as Economic Liberation Tool

Felix Ulloa, El Salvador's Vice-President, sees Bitcoin as pivotal for economic independence from fiat currencies like the US dollar. He emphasizes legislative strides toward integrating cryptocurrencies into the national economy.

• Main Points:

  • Economic Independence: Ulloa advocates Bitcoin to reduce reliance on central banks and traditional fiat currencies.

  • De-dollarization Challenge: Switching back to the Salvadoran colon is deemed financially impractical.

  • Legislative Support: El Salvador passed a digital assets law to bolster economic freedom.

  • Tourism Impact: Bitcoin adoption correlates with a resurgence in the tourism sector.

• Detailed Insights:

  • Economic Vision: Ulloa views Bitcoin as crucial for liberating El Salvador from fiat currency dependence, aiming for economic autonomy.

  • Financial Hurdles: Reverting to the colon is dismissed due to its economic burden, prompting exploration of cryptocurrency integration.

  • Legal Framework: El Salvador's digital assets law encompasses cryptocurrencies, tokens, and digital assets to foster economic liberalization.

  • Tourism Boost: Bitcoin's adoption is seen as revitalizing tourism, illustrating its potential economic benefits.

Related: Ark CEO Cathie Wood Praises El Salvador's Bitcoin Vision

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results