Financial author Robert Kiyosaki has issued a new warning about a potential “Bitcoin August Curse,” but told his followers he hopes it comes true.
Financial author Robert Kiyosaki has issued a new warning about a potential “Bitcoin August Curse,” but told his followers he hopes it comes true.
In an X post, the “Rich Dad Poor Dad” author said he would view a significant price drop as a major buying opportunity, sharing insights from recent financial events.
Kiyosaki said he hopes Bitcoin will drop below the $90,000 mark, making it clear he would be a buyer into a major correction. “If the Bitcoin August Curse hits and Bitcoin crashed, I stand by to 2x my position today,” he wrote. According to Kiyosaki, the larger issue is not Bitcoin itself but the broader macroeconomic landscape.
He blamed what he called “incompetent PhDs” managing the Federal Reserve and the Treasury Department, suggesting that continuous money printing has weakened the financial system. He made it clear that he believes the fault for any crash lies in monetary mismanagement, not in Bitcoin’s fundamentals.
While Kiyosaki is looking for a strong correction, recent trading activity shows Bitcoin trying to regain its footing. The price hit a weekly low of $112,250 before recovering by 2% to $114,492. At press time, Bitcoin was trading around $114,401, showing a daily gain of 0.57%.
Despite this recovery, the 24-hour trading volume has dropped by 12.26% to $49.68 billion, suggesting reduced activity during the bounce. Chart data does show a short-term bullish pattern, with higher highs and higher lows forming. Resistance has now formed near $114,750, while support is holding steady around $113,640.
The price remains below its 4-hour 50-period EMA, a key momentum indicator, which sits at $116,712. A failure to reclaim that level could see the decline extend toward the $110,000 support region.
