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Kiyosaki’s $350,000 Bitcoin Price Prediction: Too Far-fetched?
- According to Kiyosaki, BTC could reach $350,000 in two months.
- However, the level is too ambitious to be reached statistically in 2024.
Industry titans and market analysts expect Bitcoin [BTC] surpass the current price consolidation range of $60,000 to $71,000 before the end of the year. For Mike Novogratz of Galaxy Digital, the end of 2024 target would have been $100,000 if the ATH of $73,000 had been written off.
Another crypto analyst, Plan Bsaw $500,000 per BTC as a possible party in the current market bull run.
However, Rober Kiyosaki, entrepreneur and author of “Rich Dad, Poor Dad,” took a bold step prediction – $350,000 per BTC in the next two months.
‘BITCOIN will reach $350,000 by August 25, 2024, that’s not a lie. It’s a prediction. It’s speculation, it’s an opinion, but it’s not a lie.’
Kiyosaki added that the prediction was possible because of “the incompetence of our leaders, President Biden, Treasury Secretary Yellin and Fed Chair Powell.”
Is $350,000 per BTC too optimistic?
However, another well-known crypto analyst, Willy Woo, felt that Kiyosaki’s projection was too bold to be realized in such a short period of time. The move to $350,000 per BTC would mean 5x in two months.
Maybe 2025, Woo noticed,
“Statistically possible in 2025 if monetary devaluation resumes. Almost no chance in 2024, other than a bullish black swan.’
It is interesting to note the Stock-to-Flow (S2F) model. confirmed Woo predicted that $350,000 per BTC would only be possible in March 2025.
Source: Review Bitcoin
The S2F model, based on the BTC supply schedule, has fairly predicted future BTC price prospects in the past. As mined BTC decreases over time, the supply of BTC also decreases and the value of the S2F ratio increases over time.
That is why, according to the model, the value of BTC is expected to increase as supply decreases in the future. Based on the model, BTC could reach $80,000-85,000 in August 2024, compared to the $350,000 Kiyosaki predicted.
Source: BTC/USDT, TradingView
Meanwhile, BTC may return to short-term demand, which previously saw a bid of around $70,000, before rising to the $72,000 mark.
Liquidity data from Coinglass supported the scenario, showing key magnetic levels for price action at $70,000 and $72.3,000, as shown by the orange levels.
Source: Coinglass