After Bitcoin (BTC) hit a record high of about $108,000, the asset has retreated, facing the threat of dropping below the $90,000 support zone as hopes of a possible Santa rally fade.
With this price drop, Robert Kiyosaki, the author of the best-selling personal finance book ‘Rich Dad Poor Dad’, has addressed Bitcoin investors disheartened by the bearish trajectory.
Kiyosaki criticized what he described as “cry babies,” complaining about the decline instead of seizing the opportunity to buy more, according to his X post on December 24.
Known for his bullish stance on Bitcoin, the celebrity investor emphasized that market dips are moments to be grateful for, urging investors to view them as buying opportunities rather than reasons for concern.
“Boo Hoo Boo Hoo: BITCOIN CRY BABIES crying about Bitcoin prices dropping down. Rather than say “Thank you” and buying more “Bitcoins”…..cry babies cry. Buy buy buy not cry cry cry. Be grateful. Grow up and buy more BC,” Kiyosaki said.
Kiyosaki’s bullish Bitcoin stand
Indeed, the financial educator has maintained that Bitcoin is the ideal asset to protect wealth as he warns about the start of a global crash. It is worth noting that Kiyosaki’s prediction of a major economic crash has been a subject of debate.
In addition to the digital asset, the author has advocated investing in precious metals, including gold and silver, maintaining that they all serve the same purpose and should not be involved in a supremacy battle.
In line with accumulating Bitcoin, Kiyosaki, in a Finbold report, expressed gratitude to Bitcoin investors for putting money away from traditional finance assets.
According to Kiyosaki, investing in Bitcoin alongside precious metals is a way to refuse to place trust in conventional financial institutions, which he describes as a “Den of Thieves.”
Bitcoin price analysis
Bitcoin was trading at $93,810 at press time, down over 2% on the daily chart and a massive 12% on the weekly timeframe.
Regarding the next price movement, a trading expert on X with the pseudonym Market Maestro offered potential scenarios for Bitcoin as it faces a correction.
The expert stressed that as long as Bitcoin fails to achieve a weekly close above $95,221, selling pressure is expected to persist. Conversely, a weekly close below $92,140 could trigger an even sharper price decline.
The first major support zone is between $92,000 and $90,000. Should this level break, the next area of interest will be between $90,000 and $82,000.
On the other hand, the final significant support range sits between $82,000 and $75,000. Below $75,000, further downside targets are not currently being considered.
While brief intraday wicks could dip below these levels, the focus remains on weekly closes, as they carry more weight in determining the longer-term trend.
Several elements suggest that Bitcoin’s correction might be temporary, as the asset has an arsenal of fundamental factors likely to spur future price growth.
For instance, BTC is still benefiting from optimism tied to Donald Trump’s election win, whose campaign promised to spearhead the initiation of pro-crypto policies. To this end, some analysts maintain that in an environment of friendly regulations and institutional inflows, Bitcoin could hit a high of $200,000 in 2025.
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