In a notice to his many followers, Robert Kiyosaki, financial educator and acclaimed author, has exhorted Investors should hold on tight as Bitcoin prepares for what he calls a trip to the “banana zone.” The phrase refers to a sharp and sudden increase in Bitcoin’s price, which Kiyosaki believes will soon occur despite the recent market instability.
The banana shape serves as a basis for comparison, which represents the steep upward curve shown in the price charts. In addition, it is believed to be a period of high risk and high profits, which is why investors and traders should exercise greater caution and a strategic approach.
Bitcoin prepares for the banana zone
It should be noted that in the context of cryptocurrencies, the term “Banana Zone” describes a period of rapid growth and extreme market volatility. This is a period frequently marked by sharp price increases and a frenzy of commercial activity.
Raoul PalCEO of Real Vision and expert in macroeconomics, coined the phrase to characterize a stage in the cryptocurrency market where cryptocurrencies like Bitcoin are expected to perform better and perhaps experience a sharp rise of market capitalization.
According to Robert Kiyosaki, Pal is currently generating a lot of buzz in the cryptocurrency community discussing Bitcoin hitting the Banana Zone, and he is confident that the CEO is competent in this area. This is due to Pal’s previous work experience as a senior executive at Goldman Sachs.
The author further expressed his appreciation for Raoul Pal’s YouTube lessons, noting that these lessons gave him a better understanding of Bitcoin’s entry into the banana patch. Well known for his support of alternative investment methods and financial education, Kiyosaki has consistently advocated Bitcoin as a hedge against conventional financial institutions and currency depreciation.
Kiyosaki believes that Bitcoin is a “rules-based currency,” which generally makes you richer, while traditional fiat currency is a “debt-based currency” which makes you poorer. As a result, he advised investors to hold on, as BTC is soaring in the banana zone, highlighting that the asset could be poised for significant upside in the short term.
Kiyosayi wants to increase his BTC holdings
Robert Kiyosaki also noted that Pal had personally advised him in the past to start investing in Bitcoin, and through his encouragement, the author purchased 30 BTC at $6,000. Fast forward to today, the crypto asset is currently valued at around $60,000, and Kiyosaki is purchasing additional BTC every month, demonstrating his unwavering confidence in the digital asset’s future trajectory.
Kiyosaki’s call for action comes in light of market instability and sluggish Bitcoin prices. Despite recent price drops, Kiyosaki has underlines his determination to acquire more BTC during this period. With the recent BTC crash, the author believes that people would sell their coins in order to minimize losses, allowing him to buy more of the asset.
Featured image from iStock, chart from Tradingview.com
