Bitcoin experienced a brief decline on Monday, but it has since rebounded to $61,000.
On Monday, the price of Bitcoin reached a low of $58,400 on Binance, marking an 11% decline since the beginning of the month. Robert Kiyosaki, the author of “Rich Dad, Poor Dad,” perceives this as an opportunity to augment his portfolio, despite the adverse trend.
“Bitcoin is experiencing a significant decline.” The majority of individuals should consider selling. In a recent post on X, Kiyosaki stated, “I am currently awaiting the opportunity to purchase additional items.”
Despite Kiyosaki’s recognition that numerous traders could generate profits at advantageous times, trading for short-term capital gains is associated with tax penalties. He favors the acquisition and preservation of assets for the long term.
“My approach is comparable to Warren Buffet’s “purchase and hold on eternally,” Kiyosaki stated, emphasizing that his current objective is to establish new enterprises rather than engage in asset trading.”
The renowned author recommended that individuals who are apprehensive about Bitcoin collapses should sell their assets and maintain consistent employment during market downturns.
According to Kiyosaki, the majority of “employees” should sell and remain steadfast in their positions if disasters frighten them.
Mt. Gox’s selling pressure was partially responsible for the recent Bitcoin collapse. The trustee of the defunct exchange disclosed its intention to reimburse its creditors in July on Monday. The rehabilitation plan anticipates that creditors will receive reimbursements in Bitcoin and Bitcoin Cash totaling more than $9 billion.
According to CoinGecko’s data, Bitcoin’s price has since rebounded and is presently trading at approximately $61,000, despite the initial decline.
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