Will Bitcoin Crash This August? Robert Kiyosaki Thinks So

Popular author and financial expert Robert Kiyosaki has shared a new price expectation for the leading cryptocurrency, bitcoin (BTC). According to him, BTC could plummet to as low as $90,000 this month. Here’s why.

The “Bitcoin August Curse”

Kiyosaki highlighted the “Bitcoin August Curse” as the potential driver behind the expected BTC price dump.

Historically, bitcoin has experienced severe price declines in most Augusts since 2014. On-chain data from the blockchain data analytics platform CoinGlass proves this. According to the chart below, BTC lost 13.88% and 11.29% of its market valuation in 2021 and 2022 alone. Although last year’s decline was less than previous years, it still saw an 8.6% price plunge.

Source: CoinGlass

This historic record track is the primary driving force behind Kiyosaki’s latest price prediction. He added that the United States’ government and its activities will likely contribute to this month’s potential BTC price dump. He stressed that the country’s multi-trillion-dollar debt and political figures within financial offices like the Federal Reserve and the U.S. Treasury are instrumental to bitcoin retesting the $90,000 price level.

In the past, the renowned author has shared various price expectations for the leading cryptocurrency. Last month, he warned of an impending bubble burst, highlighting that digital assets like BTC and gold will likely crash soon. Still, he believes that the apex cryptocurrency will attain higher price levels in the future.

Can BTC Drop to $90K?

If Kiyosaki’s expectation occurs, bitcoin would drop by over 21% from its current price level to the $90,000 threshold. Due to the crypto market’s volatility, it remains uncertain whether BTC will experience such a price decline.

Still, it is noteworthy to weigh other market factors, such as the recent attention given to ETH, the second-largest cryptocurrency after BTC. Over the past few months, various public companies have embraced ETH as a treasury asset. These actions enabled Ether to reclaim the $3,800 price level before a market correction ensued.

In a recent report, a crypto analyst stressed that ETH could attain a new all-time high above $4,800 if BTC’s market dominance drops to 40%. Bitcoin currently has a market dominance of 61.2%, representing a 3.43% decline. If this drops further, it will have a ripple effect on the leading cryptocurrency’s market value. Thus, this could bring Kiyosaki’s prediction to fruition.

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