- Robert Kiyosaki confirms buying Bitcoin at $110,000 amid a potential high-volatility phase.
- Bitcoin trades at $117,890, with support at $116,847 and resistance at $118,667.
- BTC gains 0.1% in 24 hours, remaining stable within a tight trading range.
Bitcoin continued to trade near $117,890 this week, with negligible gains of 0.1% over the last 24 hours. The currency continues to trade in a tight range reflecting cautious market conditions. Interestingly, investor and author Robert Kiyosaki revealed that he recently bought Bitcoin at $110,000.
He referenced this activity while warning of a potential high-volatility period ahead, dubbed by analyst Raoul Pal as the “Banana Zone.” According to Kiyosaki, this phase may trigger waves of panic-driven buying behavior among late entrants.
BTC Price Maintains Support While Trading Volume Remains Contained
At present, Bitcoin trades within a daily range between $116,847 and $118,667. Support has been established at $116,847, while resistance stands at $118,667. Despite a modest 0.1% gain over 24 hours, the BTC/USD pair has not demonstrated sharp directional movement.
The current price of $117,890 reflects market stability following Kiyosaki’s entry at the $110,000 level. His comments follow a previously shared investment principle stating that “profit is made when you buy, not when you sell.” This approach reinforces an emphasis on entry timing rather than exit valuation.
Market Dynamics May Shift with Potential FOMO-Driven Activity
Kiyosaki also commented on potential emotional buying patterns that may develop as Bitcoin enters what he described as a high-pressure period. Referring to investor Raoul Pal’s “Banana Zone” theory, he suggested that new buyers may be driven by fear of missing out (FOMO). These behaviors, he said, could lead to rushed buying followed by emotional selling. He also distinguished between long-term holders, whom he labeled as “pigs,” and speculative traders, referred to as “hogs.” The metaphor serves to highlight varying risk approaches among market participants.
Buying Strategy Emphasized Amid Future Market Declines
He stated that during the next wave of market selling, long-term investors may increase their positions. He cited a previous lesson from his Rich Dad series, emphasizing that profits are determined at the point of purchase. While no timeline was specified for further accumulation, he indicated that any significant price pullbacks would likely be met with renewed buying interest. This approach continues to rely on disciplined entries rather than reactionary exits, regardless of short-term market behavior.
