Author Robert Kiyosaki Positive About Buying Bitcoin
- Blog
- October 6, 2022
Author Robert Kiyosaki Positive About Buying Bitcoin
Bitcoin’s Sharpe ratio began surging a few weeks ago from its September low of -4.38. However, it has been strengthening since it is still hovering towards the negative.
The ratio is often used to determine the safety of an investment. Hence, the conclusion is that investors are now in a far better position than they were a few weeks ago. But the value of -0.52 is not promising either.
More than 34,723 BTC were transferred out of exchanges on September 30th. And this might be an indication of “a hint of trader confidence.”
Such a massive sum of Bitcoin was last transferred out of markets on June 17th. The subsequent 22% price rise in the asset over the next four weeks hinted at optimistic times for the investors in the month of October.
The community sees this as an opportunity to buy Bitcoin. Robert Kiyosaki labeled bitcoin as a “buying opportunity” like silver and gold. The Rich Dad Poor Dad author, in a tweet, stated that if Fed continues raising interest rates, the US dollar will get stronger, forcing the value of gold, silver, & Bitcoin down. And when Fed pivots and reduces interest rates as England recently did, things will look good for investors.
In addition, since mid-August, the supply ratio of Bitcoin’s stablecoin has dropped to 4.5, indicating a rather substantial stablecoin supply. This is the exact textbook premise that indicates a turnaround followed by rising purchase pressure.
