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Author Topic: Bitcoin price: Watchout for 30% decline in Bitcoin price, according to this indi  (Read 306 times)
fennic (OP)
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October 03, 2022, 05:30:04 PM
 #1

Bitcoin one-year running Return on Investment (ROI) has formed a bottom pattern, one that occurs a year after hitting cycle top.
Robert Kiyosaki believes it is a buying opportunity for Bitcoin as the US dollar surges.
Bitcoin price sustains above the key psychological level of $19,000 despite looming risk of decline.
Bitcoin price surpassed the key psychological barrier at $19,000 and sustained above this level. American businessman and author Robert Kiyosaki believes that it is a buying opportunity for BTC. Analysts warn traders of a decline in the asset’s price in the short-term.
Robert Kiyosaki urges traders to buy BTC
Robert Kiyosaki, American entrepreneur and author, told his 2.1 million followers that prices of assets considered as “safe haven” like Gold, Silver and Bitcoin will continue declining as the U.S. dollar strengthens, proving its worth once the “FED pivots” and drops interest rates.

Kiyosaki believes this pivot could come as soon as January 2023 and the US dollar could “crash” in the same way as the recently collapsed English Pound Sterling. Kiyosaki argues,

Will the US dollar follow English Pound Sterling? I believe it will. I believe the US dollar will crash by January 2023 after the Fed pivots.
Source of Link: https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-watchout-for-30-decline-in-bitcoin-price-according-to-this-indicator-202210031232?_gl=1*17slvxp*_ga*YW1wLTNPSVVQRFVxZ2ZjWkR0N01qVEJuYlJZd1Y3ZHhISFpia1BHblFHWUJUNFVZN2J2UUZPSG9rc0hDVHJkTHlnT0o.

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October 03, 2022, 06:02:00 PM
Merited by arwin100 (1)
 #2

Quote
Analysts at crypto intelligence firm IntoTheCryptoverse evaluated the Bitcoin price trend

Lol really?

This guy that's quoted there as "an analyst from a crypto intelligence firm" Benjamin Cowen is a youtuber who started making videos about bitcoin somewhere in 2019. The guy hasn't even been through a single bitcoin bear market and they're making articles about his bearish predictions, comparing him to people like Kiyosaki. Not saying that Kiyosaki has to be right and Cowen wrong, just that any idiot can make a bearish prediction in a bear market and it's especially easy when you're a youtuber who gets money regardless of whether he's right or not.

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October 03, 2022, 06:26:49 PM
 #3

Technical analysis always suck and fundamental analysis don’t work on bitcoin so any prediction coming from anybody has no meaning. Kyosaki, Powell, Cramer or someone else… it doesn’t matter who is making these predictions. They are all pulling it out if their asses. The markets will either go upwards, downwards or sideways like it always do. The future won’t be an exception. If the price declines 30%, it will create a better buying opportunity. It doesn’t mean anything else.

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October 03, 2022, 06:29:30 PM
 #4

So.. someone is expecting a price decline in a bear market that's like 11 months strong. Such a unique opinion wow I'm impressed. 99/10

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October 03, 2022, 06:37:45 PM
Merited by darkangel11 (1)
 #5

Oh, Robert Kiyosaki, the famous author who when faced with the real world not writing managed to bankrupt every single business he started.
Just a quick reminded what he was saying a few months ago:

Quote
May 23, 2022:  DAVOS, Switzerland IMF warns world faces greatest financial challenges since WWII. Global disaster has been coming for years.   Desperate leaders will do desperate things. Workd War coming? God have mercy on us. Save gold, silver, Bitcoin, food, guns, and bullets.

One month later:

Quote
Best INVESTMENT:  Cans of Tuna Fish. Inflation about to take off.  Best investments are cans of tuna & baked beans. You can’t eat gold, silver, or Bitcoin. You can eat cans of tuna and baked beans. Food most important. Starvation next problem. Invest in the solution. Take care.

And if you want to see something really funny:
https://twitter.com/theRealKiyosaki/status/1541593385974128642

Quote
RICH Dad lesson. “LOSERS quit when they lose.”  Bitcoin losers are quitting some committing suicide.’WINNERs learn from their losses. I am waiting for Bitcoin to “test” $1100. If it recovers I will buy more. If it does not I will wait for losers to “capiulate” quit then buy more.

Everyone that is taking this guy seriously really needs to adjust his social media following list.
As for the other guy with his 30 declines, yeah right, exactly 30%, not 25% not 50% because, again, reasons!


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October 03, 2022, 06:51:09 PM
 #6

Kiyosaki believes that it is a buying opportunity for BTC. Analysts warn traders of a decline in the asset’s price in the short-term.

With this, whose report will you believe OP? there have been countless of times people comes up with their own interesting and same way disgusting guesses about bitcoin but have we on ourselves try to engage a personal research on it? i asked myself that even if there's a definite decline althrough this year with bitcoin price does it really change anything about the nature of bitcoin in playing a steadfast economy role? Bearish and Bullish season are just a time to signal the entry and exit point for selling bitcoin and not to begin FUD



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October 03, 2022, 08:22:16 PM
 #7

Honestly much depends on what is happening with the world to be able to gauge Bitcoin and crypto moves in general. We got this credit susise situation, their CDS pretty much doubled in the last day which indicate there is high default risk.

Sure they might get bailed out but it will cause massive sell offs everywhere, including crypto. Basically a black swan event like Lehman brothers back in the day. So this indicator doesn’t really help because it can’t predict the future whether a bank will go bust or not.

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October 03, 2022, 08:54:33 PM
 #8

Any percentage of the decline for bitcoin's price is obvious because the trend right now is clear. There goes the economic problems from most countries, the Credit Suisse issue, the war, the pandemic and the others, you name it.

All of them are becoming the factor as to why bitcoin's price is falling but the clearest thing is that, it is confirmed and very much existing that we're in a bear market.

Don't stress out an analyst or Robery Kiyosaki's opinion. Everyone has to say on this bear market and you've got to learn what they're saying because you can understand the situation on your own by gathering information and facts and not just being reliant to, an analyst.

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October 03, 2022, 11:20:51 PM
Last edit: October 03, 2022, 11:31:10 PM by STT
 #9

We failed in the recovery from the June low but fell back to some level of support seen at Sept start and recently about 18.4k, there is a slight trend up but its not nearly as regular and structured as the initial trend up out of June lows.   So BTC is weak but I wouldnt assume we must go downwards, plenty of times previous sideways has been enough as after all many major 'rich' FIAT currencies are registering inflation into double digits per year.  A nominal price for BTC that stays flat then is actually already adjusting down steadily, a hidden but steady decline is a boring prediction to make.

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October 04, 2022, 01:25:01 AM
 #10

i honestly had to reread the thread several times to try to understand what the hell this guy Robert Kiyosaki is talking about, because he encourages people to buy now, but in the same article he says that bitcoin is going down and that by january it will go down even more, but soon then urge people to buy it now, what the hell advice is that? Wouldn't it have been better if he told people to buy in January when the price dropped a lot according to him? what would be the point of buying it now and the price going down much later? i hope no one listens to this guy, he doesn't seem to have a firm and decisive stance on price predictions, it seems he just wants to gain popularity with his nonsense comment

We failed in the recovery from the June low but fell back to some level of support seen at Sept start and recently about 18.4k, there is a slight trend up but its not nearly as regular and structured as the initial trend up out of June lows.   So BTC is weak but I wouldnt assume we must go downwards, plenty of times previous sideways has been enough as after all many major 'rich' FIAT currencies are registering inflation into double digits per year.  A nominal price for BTC that stays flat then is actually already adjusting down steadily, a hidden but steady decline is a boring prediction to make.

the problem with this article is that the guy Robert Kiyosaki encourages people to buy now, and then says that the price will drop a lot until January, this is nonsense advice, it looks like the guy was drunk when he said these things

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October 04, 2022, 05:33:33 AM
 #11



Kiyosaki believes this pivot could come as soon as January 2023 and the US dollar could “crash” in the same way as the recently collapsed English Pound Sterling. Kiyosaki argues,

Will the US dollar follow English Pound Sterling? I believe it will. I believe the US dollar will crash by January 2023 after the Fed pivots.
Source of Link: https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-watchout-for-30-decline-in-bitcoin-price-according-to-this-indicator-202210031232?_gl=1*17slvxp*_ga*YW1wLTNPSVVQRFVxZ2ZjWkR0N01qVEJuYlJZd1Y3ZHhISFpia1BHblFHWUJUNFVZN2J2UUZPSG9rc0hDVHJkTHlnT0o.

I wonder where he base this argument just looking at the chart maybe the USD is strengthening and will even continue to rise in 2023 as the Fed continues to raise interest rates. Euro or pound collapse is because their economy is in a bad crisis, once the crisis is over, everything will gradually recover. It can be said that the fiat system has too many shortcomings, but the collapse is unlikely to happen.

The USD is being seen as a measure of all assets and other currencies and it is really hard to think of the possibility of the USD collapsing when the US is still the leading power in the world. Whoever the Fed is, they also serve the US, they are part of the US, how can they harm the USD like shooting themselves in the foot.

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October 04, 2022, 07:02:13 AM
 #12

I have read too many predictions about Bitcoin to the extent that I don't want to read about them anymore to avoid a conflict of interest. And since I know how to speculate well, I only follow my own trading advice, and it is working excellently for me with minimal losses. Aside from that, I was an ardent supporter of the selling of Bitcoin this year due to the overall bearishness of the weekly and monthly charts, but I changed in September because the tradition of Bitcoin itself is helping it not to fall beyond normal.

A lot of buyers are queuing at immediate lower levels now, which makes me know that Bitcoin will not have an outstanding fall anymore this year.

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October 04, 2022, 10:58:06 AM
 #13

I have read too many predictions about Bitcoin to the extent that I don't want to read about them anymore to avoid a conflict of interest. And since I know how to speculate well, I only follow my own trading advice, and it is working excellently for me with minimal losses. Aside from that, I was an ardent supporter of the selling of Bitcoin this year due to the overall bearishness of the weekly and monthly charts, but I changed in September because the tradition of Bitcoin itself is helping it not to fall beyond normal.

A lot of buyers are queuing at immediate lower levels now, which makes me know that Bitcoin will not have an outstanding fall anymore this year.
It’s really good to have your own strategy which you can know the trend based on your own timeline. There’s a lot of downtrend analysis and it seems to be right because the market behavior is still negative and the price can’t still break above the resistance. Worst dump price is $10k, I don’t know if whales will catch on that price level or they will continue to make pressure with Bitcoin and sold their holdings further. Have time now to make a plan and make strategy, worst price is yet to be seen.

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October 04, 2022, 11:39:36 AM
Merited by darkangel11 (1)
 #14

Quote
Analysts at crypto intelligence firm IntoTheCryptoverse evaluated the Bitcoin price trend

Lol really?

This guy that's quoted there as "an analyst from a crypto intelligence firm" Benjamin Cowen is a youtuber who started making videos about bitcoin somewhere in 2019. The guy hasn't even been through a single bitcoin bear market and they're making articles about his bearish predictions, comparing him to people like Kiyosaki. Not saying that Kiyosaki has to be right and Cowen wrong, just that any idiot can make a bearish prediction in a bear market and it's especially easy when you're a youtuber who gets money regardless of whether he's right or not.

People easily believe on what famous people claims without doing any background checking maybe they became famous because they creating videos about it but it doesn't mean that they are expert and they are 100% accurate on their claims. Maybe they are good at forex if they are used to trade in thus area but crypto and forex is totally different so the analysis given by them is different, so we shouldn't get hype or fud on any statement since as other user stated anyone can give their own predictions either its bullish or bearish.

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October 04, 2022, 12:41:54 PM
 #15

I think the role of Kiyosaki at this point is just to convince others of buying Bitcoin. He may or may not succeed though given his track record but I think there are still some out there who are still looking up to Kiyosaki as somebody who knows what he's talking about.

But with regard to his market predictions, whether about fiat or Bitcoin, he might not have what it takes to be considered an authority. He doesn't have a solid credentials. But he has been a broken record with his advice to buy gold, silver, and Bitcoin.
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October 04, 2022, 12:48:26 PM
Merited by darkangel11 (1)
 #16

Quote
Analysts at crypto intelligence firm IntoTheCryptoverse evaluated the Bitcoin price trend

Lol really?

This guy that's quoted there as "an analyst from a crypto intelligence firm" Benjamin Cowen is a youtuber who started making videos about bitcoin somewhere in 2019. The guy hasn't even been through a single bitcoin bear market and they're making articles about his bearish predictions, comparing him to people like Kiyosaki. Not saying that Kiyosaki has to be right and Cowen wrong, just that any idiot can make a bearish prediction in a bear market and it's especially easy when you're a youtuber who gets money regardless of whether he's right or not.

No offense but you don't need to experience the actual bear market just to make technical analysis for prediction since all the previous data is already available in the price chart. In fact it's much easier to predict the future price using a lot of data from the rather than based on the actual condition of the market.

I honestly don't have any idea who the guy is nor I support him. I just want to comment on how people that start late in crypto can still give a valid prediction if they are really good on TA based on there trading portfolio.

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October 04, 2022, 02:25:05 PM
 #17


No offense but you don't need to experience the actual bear market just to make technical analysis for prediction since all the previous data is already available in the price chart. In fact it's much easier to predict the future price using a lot of data from the rather than based on the actual condition of the market.

I honestly don't have any idea who the guy is nor I support him. I just want to comment on how people that start late in crypto can still give a valid prediction if they are really good on TA based on there trading portfolio.

None taken. I'm mentioning it because to me it's a proof of experience. When I see someone who's been there and who managed to predict the market in 2014 and 2018, I'm all ears. When I see a youtuber screaming we should be bullish when Bitcoin went up 300%, or the other way round when they see a 70% decline and say we have to go to 80 because the charts are telling him, I'm skeptical.

I also think that TA isn't everything.  You can be a great analyst from traditional finances, come to bitcoin and suck at it. I know a number of such people who thought they were good, but they weren't.
Want a name? How about J.P. Morgan chief strategist Tom Lee?

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October 04, 2022, 08:28:02 PM
 #18

Robert Kiyosaki is a guy who managed to build and entire career out of a simple book that everyone knew about, but couldn't write in simple terms like him. He is more of an author than an investor if you ask me and he shouldn't be listened for any type of investment advice. At the end of the day, we are in a world where it is going to be quite hard to achieve something with just listening to others, specially people like Kiyosaki.

I agree that price will go up, and we should invest into bitcoin right now because there could be a big decline in dollar price, not in bitcoin price, and dollar will get more and more devalued for sure.

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October 04, 2022, 09:22:19 PM
 #19

I feel like every time one of these people decides to post a prediction it's always to gain more followers and later sell themselves. Selling comes in different varieties. Youtubers want to sell their channels, book authors want to sell their books, people on trading view and forums try to sell paid predictions or access to special trading groups. It's always about money, so don't believe a word they say. Not a single one of them has any clue when it comes to patterns, because there's so many of them you cannot use all and have to jump from one to the other.

Harmonics, moving averages, rsi, market cycles, on chain data, some people even count days or weeks in the bull and bear market thinking that if the last bear market lasted for x weeks the next one will have to be the same or longer. I've read so many theories and all of them fail when there's a real problem like war or a virus.


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October 04, 2022, 11:49:10 PM
 #20

We've seen a lot of people claiming themselves to a famous for predicting Bitcoin price in the market.
Which is the fact, they aren't.

Sorry for saying this but IMO, Kiyosaki seeking attention for his prediction for it might looking more followers to his social media account.

If the bear market will continue, that's the time for buying point of some whales which I think isn't a bad side of the market price, not unless, all whales will sell their holding which I think they didn't because they are smarter investors.

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