This year has been a rollercoaster ride for Bitcoin. Bitcoin’s price has been fluctuating since its stunning all-time high in November 2021, after a solid start to the year. Following this week’s meltdown, BTC is now heading down a steep valley, with the largest cryptocurrency on the market down more than 50%.
Bitcoin fell below $30,000 Friday, trading at $29,900 in the late afternoon, its lowest level since July 2021. The cryptocurrency briefly recovered to $32,650 in an attempt to recoup, but then fell again, and it now trades at $30,269.
Traders are currently in a frenzy as many anticipate Bitcoin’s problems will worsen if the price does not break through a crucial barrier level in the coming days. Bitcoin’s recent price drop has been connected to a major sell-off caused by a variety of causes, including concerns about the activities of the United States Treasury Department and Federal Reserve.
Many important players in the crypto communities are expressing their views on where Bitcoin’s price is heading. While some consider the recent sudden price drop as a warning sign that the digital asset is headed for an unpleasant awakening, most believe in the coin’s durability and capacity to weather the present negative storm.
American businessman Robert Kiyosaki is among many who feel Bitcoin is here to stay. The rich author of the best-selling book ‘Rich Dad, Poor Dad’ resorted to Twitter to vent his contempt for the US government while urging Bitcoin to recover.
Kiyosaki’s tweet, on the other hand, describes US government initiatives and feels that President Biden has both Yellen and Powell playing the long game. Kiyosaki’s prediction that Bitcoin would prevail implies that he envisions a future in which Bitcoin has risen above geopolitical uncertainty and is prospering. If there is any crypto asset that deserves the support of someone like Kiyosaki, it is Bitcoin, which has repeatedly demonstrated its ability to overcome hardship and overcome any obstacle.
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