U.Today – The price of (BTC) fell by over 5% today to a low of $54,800 before recovering slightly above $56,400. This rollercoaster price action triggered a cascade of liquidations worth $416.64 million.
Interestingly, $206.49 million were long positions, while $210.15 million were short positions. This shows that the market does not respect people and traders who are not cautious enough will end up bankrupt anyway.
Amidst all this, Robert Kiyosaki, author of “Rich Dad, Poor Dad” and a Bitcoin advocate, shared an important perspective. He emphasized that money should be seen as a tool, not an end goal, suggesting that true financial freedom is the goal.
Kiyosaki's advice emphasizes the importance of a long-term view and resilience during market fluctuations.
Recent market movements and Kiyosaki’s remarks highlight the risks and opportunities inherent in the cryptocurrency market. Traders and investors are reminded to approach the market with caution, recognizing that significant price fluctuations are a feature, not a flaw.
Kiyosaki’s focus on financial freedom and strategic investing provides valuable guidance for navigating the market’s ups and downs. His bullish stance on Bitcoin’s future remains spot on. He predicted that BTC could hit $120,000 by the end of 2024 and potentially skyrocket to $500,000 by next year.
This article was originally published on U.Today
