Bitcoin enthusiasts had high hopes for the cryptocurrency, believing it would surpass $100,000 after reaching $50,000 and $60,000. However, the situation took a turn for the worse in 2022 and early 2023, causing the price to drop below $20,000.
The latter half of last year showed signs of improvement, possibly due to the buzz surrounding the potential approval of spot Bitcoin ETFs in the US. Despite initial skepticism, the involvement of BlackRock, the world’s largest asset manager, changed people’s outlook.
As a result, BTC gained momentum and surpassed $50,000 for the first time in over two years after these financial products were approved at the beginning of 2024. Although the immediate impact was selling pressure, the long-term implications are significant due to the substantial USD inflow.
This resurgence has shifted the sentiment within the community, with bullish predictions emerging, including one from Robert Kiyosaki, the author of Rich Dad, Poor Dad. Known for his support of Bitcoin, Kiyosaki predicted that BTC would reach the coveted $100,000 price point within the next four months.
BITCOIN to $100k by June 2024.
— Robert Kiyosaki (@theRealKiyosaki) February 18, 2024
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