By Godspower Owie, Bitcoinist.com, 2024-06-27
In an advisory to his wide range of followers, Robert Kiyosaki, financial educator, and acclaimed author, has urged investors to hold on as Bitcoin prepares for what he terms as a trip into the “Banana Zone.” This phrase refers to a sharp and sudden increase in the price of Bitcoin, which Kiyosaki thinks is going to happen soon despite the market's recent instability.
The banana's shape serves as the basis for the simile, which represents the steep upward curve shown in price charts. Additionally, it is thought to be a period of high risk and great profit, therefore investors and traders should exercise extra caution and a strategic approach.
Bitcoin Gears Up For The Banana Zone
It is worth noting that in the context of cryptocurrency, the term “Banana Zone” describes a period of quick growth and extreme market volatility. It is a period frequently marked by sharp price jumps and a frenzy of trading activity
Raoul Pal, the Chief Executive Officer (CEO) of Real Vision and a macroeconomic expert, invented the phrase to characterize a stage of the cryptocurrency market where it is anticipated that cryptocurrencies like Bitcoin will perform better and maybe see a large increase in market capitalization.
According to Robert Kiyosaki, Pal is currently generating quite a buzz in the cryptocurrency community discussing Bitcoin hitting the banana zone, and he is confident that the CEO is knowledgeable in this area. This is because of Pal's prior professional experience working as a senior executive at Goldman Sachs.
The author further expressed his appreciation towards Raoul Pal's YouTube lessons, noting that these lessons have given him a better understanding of Bitcoin‘s entry into the banana zone. Well-known for his support of alternative investing methods and financial education, Kiyosaki has continuously defended Bitcoin as a hedge against conventional financial institutions and currency depreciation.
Kiyosaki believes that Bitcoin is “rules-based money,” which usually makes one wealthier, while traditional fiat money is “debt-based money” that makes one poorer. As a result, he has advised investors to hold on tight as BTC soars into the banana zone, highlighting that the asset could be poised for a significant surge in the short term.
Kiyosayi Wants To Increase His BTC Holdings
Robert Kiyosaki also noted that Pal in the past personally advised him to start investing in Bitcoin, and because of 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 has been buying additional BTC each month, demonstrating his unwavering trust in the digital asset's future trajectory.
Kiyosaki's call to action comes in light of market instability and gloomy Bitcoin prices. Despite the recent price declines, Kiyosaki has underscored his determination to acquire more BTC in this period. With BTC crashing lately, the author believes people would sell their coins in order to minimize losses, which allows him to purchase more of the asset.
