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‘Rich Dad Poor Dad’ Author Kiyosaki Reveals Crucial Insight As Bitcoin Turns Red
Gamza Khanzadaev
Bitcoin’s 5% price drop today led to major liquidations, with Robert Kiyosaki highlighting financial freedom insights
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The price of Bitcoin (BTC) fell more than 5% today to a low of $54,800 before bouncing slightly above $56,400. This roller-coaster price action has caused a cascade of liquidations worth $416.64 million.
Interestingly, $206.49 million were long positions, while $210.15 million were short. This simply shows that the market does not discriminate between people and traders who are not cautious enough will be wiped out either way.
In the midst of all this, Robert Kiyosakiauthor of “Rich Dad Poor Dad” and a Bitcoin attorney, shared an important perspective. He emphasized that money should be seen as a tool, not an end goal, suggesting that true financial freedom is the goal.
Kiyosaki’s advice emphasizes the importance of a long-term view and resilience during market fluctuations.
Kiyosaki’s recent market movements and insights underscore the risks and opportunities inherent in the cryptocurrency market. Traders and investors are reminded to approach the market with caution, recognizing that significant price fluctuations are a feature, not a bug.
BTC to USD via CoinMarketCap
Kiyosaki’s focus on financial freedom and strategic investing provides valuable guidance for navigating the market’s ups and downs. His bullish stance on Bitcoin’s future remains spot on. He predicted that BTC could reach $120,000 by the end of 2024 and potentially rise to $500,000 by next year.
About the author
Gamza Khanzadaev
Financial analyst, trader and cryptocurrency enthusiast.
Gamza graduated with a degree in finance and credit with a focus on securities and financial derivatives. He then completed a master’s degree in banking and asset management.
He wants to contribute to the discussion of economic and fintech topics, as well as inform more people about cryptocurrencies and blockchain.