By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Bitcoin Price Prediction by ‘Rich Dad Poor Dad’ Author Anticipates ‘Trillion Dollar’ Surge
Share
Notification Show More
Latest News
Ferrero’s Social Responsibility Project Kinder Joy of moving Beats Traditional PE Curriculum, Tapping into the Cognitive Functions, Motor Coordination and Life Skills of Students
Lifestyle
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech
Beat the Heat This Summer with a Chill Out on Dubai Marina
World
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Crypto > Bitcoin Price Prediction by ‘Rich Dad Poor Dad’ Author Anticipates ‘Trillion Dollar’ Surge
Crypto

Bitcoin Price Prediction by ‘Rich Dad Poor Dad’ Author Anticipates ‘Trillion Dollar’ Surge

News Room
Last updated: 2024/08/23 at 4:06 AM
News Room
Share
4 Min Read
SHARE

Bitcoin (BTC) recently surged above $61,000, reaching a high of $61,800, while the global cryptocurrency market cap hit $2.14 trillion with a 24-hour gain of nearly 1.75%. The rally was triggered by Federal Reserve Chair Jerome Powell’s comments hinting at a potential rate cut in September. Additionally, a downward revision in U.S. employment growth data from March 2023 to March 2024 revealed a weaker job market, leading to expectations of more significant interest rate cuts by the Federal Reserve, boosting market confidence. Bitcoin’s rise was further supported by financial expert Robert Kiyosaki’s warning about the increasing U.S. national debt, advocating for investments in Bitcoin, gold, and silver as a hedge against inflation and economic instability.

Furthermore, U.S. presidential candidate Kamala Harris’s positive stance on digital assets and the crypto industry’s significant political influence have propelled the sector forward. Companies within the cryptocurrency industry have contributed nearly half of all corporate political donations in the 2024 election cycle. Robert Kiyosaki’s recent tweet advising followers to invest in Bitcoin amidst soaring U.S. debt and inflation has stimulated demand and support for the cryptocurrency. Despite a recent market drop from $61,650 to around $60,000, attributed to reactions to large Bitcoin transfers from Mt. Gox, Kiyosaki’s call to invest in Bitcoin may help sustain its price, with the market experiencing short-term volatility.

Matt Hougan, chief investment officer at Bitwise, highlighted the rapid institutional adoption of Bitcoin ETFs, with spot Bitcoin ETFs attracting $17.5 billion in net flows since their launch in January. These ETFs have seen consistent inflows, with Grayscale Bitcoin Mini Trust and Fidelity Wise Origin Bitcoin Fund leading the way. This strong institutional interest and resilience in the market could buoy Bitcoin prices in the long term. However, short-term price fluctuations may persist due to market reactions to Mt. Gox Bitcoin transfers and recent declines.

Bitcoin’s current price action suggests a solid base above $60,000, with immediate resistance near $61,800. A breakout above this level could lead to a more significant upside movement. The 50-day Exponential Moving Average (EMA) at $59,811 serves as strong support, reinforcing bullish sentiment. The Relative Strength Index (RSI) hovering around 54.39 indicates momentum favoring the bulls. In conclusion, investors may consider buying above $60,000, with the potential for further gains if Bitcoin surpasses the $61,800 resistance level.

In the realm of meme coins, Meme Games ($MGMES) has generated substantial interest, raising nearly $380k in a short period. Priced at $0.0093 per token, $MGMES is gaining attention within the crypto community. Inspired by the Olympics, Meme Games features virtual competitions among top meme coins, offering rewards in $MGMES tokens. The project is set to list on decentralized exchanges (DEX) by September 10, with the token price expected to rise significantly. The ongoing presale presents an opportunity for investors to participate in the project’s growth, with a market cap target of $792,208. Participants can purchase $MGMES tokens during the presale before the price increase, securing their entry into the meme coin gaming space.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room August 23, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Qatari Media Center concludes ‘Magic of Sounds’ course in Arabic phonetics
Next Article EUR/USD maintains position above 1.1100 amid new USD selling, ahead of Federal Reserve Chairman Powell’s speech
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

Ferrero’s Social Responsibility Project Kinder Joy of moving Beats Traditional PE Curriculum, Tapping into the Cognitive Functions, Motor Coordination and Life Skills of Students
Lifestyle July 14, 2025
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports July 6, 2025
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech July 1, 2025
Beat the Heat This Summer with a Chill Out on Dubai Marina
World July 1, 2025

You Might also Like

Crypto

Bitget Celebrates Bitcoin Pizza Day by Distributing Over 5000 Pizzas in Over 20 Cities Worldwide

May 22, 2025
BusinessCrypto

Bitget Protection Fund Maintains Strength with $561 Million Average Value in April 2025

May 20, 2025
BusinessCrypto

RWA project FEXSE tokenises $600,000 Jacob & Co. luxury watch on the blockchain

April 14, 2025
BusinessCrypto

Forbes Lists Bitget Amongst The World’s Most Trustworthy Crypto Exchanges

February 1, 2025
BusinessCrypto

Bitget Leverages AI Algorithms for Token Listing with the Launch of Bitget Seed

January 27, 2025
BusinessCrypto

Bitget to List Official TRUMP Meme Token for Spot Trading

January 23, 2025
BusinessCrypto

Bitget LaunchX to Support Jambo’s $5 Million Fundraising for Satellite Launch Program

January 18, 2025
BusinessCrypto

Bitget Unveils Over $5 Billion Worth of BGB Token Burn in New Whitepaper

December 28, 2024
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?