Despite the recent downturn in the crypto market, businessman and author Robert Kiyosaki has reaffirmed his optimistic outlook on Bitcoin. In a recent tweet, Kiyosaki said it’s never “too late to buy Bitcoin.” He further expressed his confidence in the digital asset’s long-term potential.
Kiyosaki Expresses Bitcoin Optimism
Kiyosaki’s comment comes as the crypto market is experiencing significant volatility. Many investors are selling off their holdings in response to economic uncertainty. However, Kiyosaki remains undeterred, advising his followers to leverage the current market dip by investing in Bitcoin.
The famous author of “Rich Dad Poor Dad” has long advocated investing in assets not tied to traditional fiat currencies. He has consistently cited the benefits of investing in gold, silver, and Bitcoin, citing their potential to hedge against inflation and economic uncertainty.
Other market metrics support Kiyosaki’s perspective. According to Santiment’s analysis, now may be a strategic time to invest in Bitcoin. The 30-day Market Value to Realized Value (MVRV) ratio has dropped to its lowest level since October 10, indicating a market correction.
With the average returns for actively trading wallets declining, many traders are experiencing losses, which could signal a buying opportunity for investors. However, While this analysis suggests a potential buying zone, it does not confirm that Bitcoin has reached a local bottom, making it a good time for investors to utilize a dollar-cost averaging (DCA) strategy.
Why Crypto Market Is Bleeding
According to CryptoQuant data, the combination of bearish sentiment among United States traders, low buying pressure, and a lack of inflows into crypto has created a storm driving the market’s bleed since the Federal Reserve’s recent 25 basis-point rate cut.
Some experts believe the rate cut’s limited scope may indicate the Fed’s caution about the economy’s health. The announcement of potential inflation next year further reinforces this notion, suggesting that the Fed is not yet confident enough to implement a more aggressive monetary policy.
The upcoming holiday season is another contributing factor to the ongoing decline in the crypto market. Historically, December has consistently seen significant decreases in the market, as traders and investors tend to take profits and liquidate their positions to fund their holiday expenses.
Meanwhile, as investors sell off their holdings, the market will likely remain bearish until the new year, when trading activity is expected to increase.
