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Bitcoin at $37,000? Don’t Be Surprised

While Bitcoin currently trades around $60,000, analysts predict a potential drop to $37,000. This correction could present a buying opportunity, especially for institutional investors.

• Main Points:

  • Potential drop to $37,000: Analysts foresee a possible Bitcoin pullback, which some view as an opportunity.

  • Institutional interest: Major investors may increase their holdings at lower price levels.

  • Key support levels: Bitcoin’s 50-day and 100-day EMAs remain intact, signaling potential resilience.

  • Volatility as opportunity: Historical patterns suggest price drops attract buying interest, leading to rallies.

• Detailed Insights:

  • Potential drop to $37,000: Bitcoin is trading around $60,000 but could fall as low as $37,000, according to some analysts. Glassnode’s co-founder sees this as a potential buying opportunity, especially for institutional investors looking to increase their holdings at a discount.

  • Institutional interest: If Bitcoin hits these lower levels, large investors are expected to step in, building a strong foundation for another rally. Historically, price drops to key support levels have triggered increased buying activity.

  • Key support levels: Despite recent volatility, Bitcoin is still trading above key technical benchmarks like the 50-day and 100-day EMAs, indicating that a more significant decline may not be imminent.

  • Volatility as opportunity: Bitcoin’s price corrections are often viewed as chances to accumulate, with past dips leading to sharp rebounds once key levels attract enough buyers.

Related: US Bitcoin ETFs See Largest Single-Day Inflow Since July, Bitcoin Climbs Past $60,000

While a drop to $37,000 may seem concerning, it could offer a strong support level and trigger another bullish cycle for Bitcoin in the long run.

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Robert Kiyosaki: Bitcoin Is Ready to 'Explode

Robert Kiyosaki, author of Rich Dad Poor Dad, believes Bitcoin is poised for a massive surge. He predicts both Bitcoin and gold will rise significantly as the U.S. Federal Reserve pivots to rate cuts, urging investors to hold both assets.

• Main Points:

  • Bitcoin explosion: Kiyosaki predicts Bitcoin will "explode" due to the Fed’s expected rate cuts.

  • Bitcoin vs. gold debate: He dismisses the Bitcoin vs. gold debate, saying both will benefit from the upcoming bull run.

  • Luxury predictions: Kiyosaki jokes that investors should prepare to buy Ferraris and Lamborghinis as Bitcoin and gold soar.

  • Bitcoin's potential: Kiyosaki forecasts Bitcoin could reach $300,000 by the end of the year.

• Detailed Insights:

  • Bitcoin explosion: Kiyosaki remains extremely bullish on Bitcoin, predicting a price explosion as the Federal Reserve moves toward rate cuts. He believes "real assets" like Bitcoin and gold will see substantial gains.

  • Bitcoin vs. gold debate: Kiyosaki calls the Bitcoin vs. gold debate unnecessary, emphasizing that both assets will benefit from a shift in monetary policy. He advises investors to focus on profiting from both, rather than pitting them against each other.

  • Luxury predictions: In a lighthearted remark, Kiyosaki suggested that Bitcoin and gold investors should soon prepare to debate which luxury car to buy as they reap the benefits of the next bull run.

  • Bitcoin's potential: Kiyosaki has previously stated that Bitcoin could reach $300,000, driven by macroeconomic shifts and increased institutional interest.

Related: 'Rich Dad Poor Dad' Author Ends Bitcoin vs Gold Debate

Kiyosaki’s bullish predictions for Bitcoin signal growing optimism among investors as they anticipate the Federal Reserve’s dovish pivot.

Top ETF Expert Debunks BlackRock Bitcoin IOU Rumor

A wild rumor suggesting Coinbase issued Bitcoin IOUs for BlackRock to manipulate Bitcoin’s price was quickly debunked by experts. Nate Geraci, president of The ETF Store, assured that Bitcoin ETFs fully own the underlying assets.

• Main Points:

  • Unfounded rumor: Claims that BlackRock holds Coinbase-issued Bitcoin IOUs are false.

  • Expert clarification: Nate Geraci and other experts debunked the rumor, confirming ETFs hold actual Bitcoin.

  • Complexity of conspiracy: Legal and accounting experts explained that executing such a scheme would require a vast conspiracy involving multiple parties.

  • BlackRock’s Bitcoin ETF success: The fund has attracted over $20 billion in flows, breaking records.

• Detailed Insights:

  • Unfounded rumor: Over the weekend, social media spread a baseless rumor that Coinbase issued Bitcoin IOUs to BlackRock, implying the financial giant does not hold real Bitcoin.

  • Expert clarification: Nate Geraci emphasized that ETFs, including BlackRock’s, fully own physical Bitcoin, comparing the rumor to past unfounded theories about gold ETFs.

  • Complexity of conspiracy: Legal expert Joe Carlasare noted that pulling off such a scheme would require collusion between Coinbase, BlackRock, auditors, and multiple law firms—an extremely unlikely scenario.

  • BlackRock’s Bitcoin ETF success: Launched earlier this year, BlackRock’s Bitcoin ETF has attracted over $20 billion, setting new records and solidifying its market presence.

Related: Bitcoin Regains Correlation with S&P 500 Ahead of FOMC Meeting

Experts urge caution against spreading misinformation, emphasizing that Bitcoin ETFs remain secure and transparent in their operations.

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