Author Robert Kiyosaki Sees Bitcoin Buying Opportunity

Author Robert Kiyosaki Sees Bitcoin Buying Opportunity
  • Since mid-August, Bitcoin’s stablecoin supply ratio has decreased to 4.5.
  • Bitcoin is now trading around the $19.5k mark as per CMC.

A few weeks ago, Bitcoin’s Sharpe ratio began climbing up from its September low of -4.38. It has managed to put itself together, but it is still hovering towards the negative.

To gauge the safety of an investment, this ratio is often used. Therefore, it can be concluded that investors are in a far better position now than they were three weeks ago. The value of -0.52, however, is not particularly promising.

Santiment recently tweeted about how on September 30th, more than 34,723 BTC were transferred out of exchanges. According to the data aggregator, this might indicate “a hint of trader confidence.”

Bullish Momentum Anticipated

June 17th was the previous time such a massive sum of Bitcoin was transferred out of markets. The subsequent 22% price increase in the asset over the subsequent 4 weeks gave investors reason to be optimistic about the month of October.

Many in the community see this as an opportunity to stock up on Bitcoin. Bitcoin, along with silver and gold, has been labelled a “buying opportunity” by Rich Dad Poor Dad author Robert Kiyosaki.

Kiyosaki tweeted:

BUYING OPPORTUNITY: if FED continues raising interest rates US $ will get stronger causing gold, silver & Bitcoin prices to go lower. BUY more. When FED pivots and drops interest rates as England just did you will smile while others cry. Take care

Additionally, since mid-August, Bitcoin’s stablecoin supply ratio has decreased to 4.5, suggesting a rather substantial stablecoin supply. Again, this is consistent with the textbook premise of rising purchase pressure and provides hope for a turnaround.

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A crypto enthusiast. Loves to write. Gives full dedication to every task assigned. Specializes in delivering on tight deadlines. An animal lover, especially dogs.