As Bitcoin rebounds to the $87,000 price mark, top industry stakeholders like Robert Kiyosaki make bold calls for the premier cryptocurrency.
Why Is Bitcoin Up Today?
Bitcoin stunned many investors in the early hours of today after its price rebounded from the $84,000 mark to over $87,000. Data from CoinMarketCap shows that BTC reached a daily high of $87,109 earlier, representing an increase of 4.26% from its 24-hour low of $84,181.
Although Bitcoin has retraced slightly to $87,203, the premier cryptocurrency is still up 3.38% over the past 24 hours. Bitcoin’s surge comes after the U.S. dollar experienced a dramatic collapse amid rising tensions relating to the global tariff war and President Donald Trump’s push to remove Federal Reserve Chair Jerome Powell.
Consequently, the U.S. dollar index (DXY) plunged to 98.5, marking its lowest level since March 2022. Amid speculations that Trump is considering ousting Powell and the sudden plunge of the DXY, Bitcoin recorded a sharp upsurge, soaring past the $87,000 mark.
Kiyosaki Sees Bitcoin Hitting $200K By Year End.
Robert Kiyosaki, the author of the financial literacy book ‘Rich Dad, Poor Dad’ has been a strong Bitcoin advocate. He has been urging investors to consider buying Bitcoin as it serves as a hedge against inflation.
Notably, the financial educator predicts that Bitcoin will hit $180,000 – $200,000 this year. He also set a long-term target of $1 million for Bitcoin by 2035, exactly 10 years from now.
Adam Back Says Bitcoin Is Still Cheap
In addition, Adam Back, the co-founder and CEO of Blockstream, believes that Bitcoin is still in its early stages and that the premier asset is cheap. He made the comment when Bitcoin was trading at around $89,000 per coin. However, his latest prediction did not set a specific price target for BTC.
Last month, the Blockstream CEO forecasted that Bitcoin would hit a lofty target of $1 million by year-end, representing a surge of 1,046% from the current price.
Former BitMEX CEO Makes Bold Statement About Bitcoin
Following Bitcoin’s rebound to the $87,000 mark today, Arthur Hayes, the former CEO of BitMEX, suggested that investors may not get another opportunity to buy Bitcoin below the $100,000 level.
This indicates that Hayes believes Bitcoin may not drop below the $100,000 psychological barrier once it crosses it. Notably, Bitcoin was still trading below the $100,000 mark in the hours leading up to press time.
Mike Alfred Expects Bitcoin to Hit $315K
Earlier this month, popular Bitcoin advocate Mike Alfred highlighted the different price targets he expects BTC to clear in the near future. According to him, Bitcoin will rise from its initial price of $88,000 and progress to an audacious target of $315,000, marking an increase of 257.95%.
Besides the recent dip of the DXY, these experts did not highlight any factor that could propel Bitcoin to lofty targets. However, reaching this audacious target would require the alignment of several factors, including post-halving dynamics, ETF inflows, and the U.S. adoption of Bitcoin as the only reserve asset.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
