- Robert Kiyosaki has predicted Bitcoin’s next target in 2024 as $300,000.
- Bitcoin has accumulated a 180% profit from September 2023.
- Funds inflow into Bitcoin increased significantly after the SEC approved spot Bitcoin ETFs.
Renowned investor and famous entrepreneur Robert Kiyosaki has predicted Bitcoin’s next target as $300,000. Kiyosaki stated this in a recent post on X, where he advised his followers to invest in the flagship cryptocurrency, even in small amounts.
According to Kiyosaki, “Bitcoin is on Fire,” and the biggest mistake anyone can make is procrastinating. The renowned investment educator noted that it is crucial to start investing in the topmost cryptocurrency, even with only $500. He not only predicted a $300,000 target for Bitcoin but said it would happen this year.
Kiyosaki’s comments come after Bitcoin displayed significant bullish strength, with a consistent rally for the past six months. The pioneer crypto has registered bullish monthly candles since last September, making gains that recently moved it to a new all-time high.
Bitcoin has accumulated a 180% profit from September 2023 in percentage gains. The price moved from $24,920 to $69,210 during this period, according to data from TradingView. Bitcoin’s rally connects to several factors, the most prominent of which is the spot Bitcoin ETF approvals by the SEC in January.
Notably, funds inflow into the Bitcoin ecosystem increased significantly after the SEC approved the ETFs. Meanwhile, many analysts believe the ETFs’ impact is still in the early stages and could last long. They also think it is only a part of the factors supporting Bitcoin’s rally in the current bull cycle.
Typically, Bitcoin halving impacts Bitcoin’s price. It slashes Bitcoin’s rewards for miners and controls the supply. Hence, most analysts believe the bull run is just beginning, especially with the Bitcoin halving around the corner.
Bitcoin traded for $66,704 at the time of writing, and historical patterns would lead users to expect the price to rally in the coming months. The expected rally would result from more inflow into the ETFs and the effect of the upcoming Bitcoin halving, among other factors.
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