Bitcoin experienced a sharp intraday drop of more than $2,000 on Monday, December 2, falling to a low of $96,091. This sudden correction has reignited debates about market sentiment and future price direction. Notably, Robert Kiyosaki, author of the globally acclaimed Rich Dad Poor Dad, has issued a rare reversal in tone—warning that Bitcoin could fall as low as $60,000.
This marks a significant shift from his earlier bullish forecast, where he confidently predicted Bitcoin would soon break the $100,000 barrier. The volatility has also triggered growing speculation about an emerging "altcoin season," with assets like XRP surging nearly 30% during Asian market hours.
Kiyosaki’s Shift in Bitcoin Outlook
In a Sunday tweet, Kiyosaki stated:
“Bitcoin is crashing. The price has dropped below $100,000. This means it could fall to $60,000.”
While this signals concern for short-term holders, Kiyosaki remains fundamentally bullish. He emphasized that such a dip would present a buying opportunity rather than a reason to exit:
“If this happens, I won’t sell. It’ll be a massive discount sale. I’ll buy more.”
He reiterated his long-standing belief that ownership—not price—is what truly matters at this stage of Bitcoin’s evolution.
“The price isn’t important anymore. What matters is how much Bitcoin you own.”
Kiyosaki concluded with a personal note:
“I want more Bitcoin. Stay safe.”
This latest commentary appears to contrast his previous stance. Just days earlier, he had proclaimed that breaking $100,000 would mark the final chance for retail investors to enter the market before institutional dominance solidifies. At the time, he warned that only corporations, banks, and sovereign wealth funds would be able to afford Bitcoin once it surpasses that psychological milestone.
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His broader investment philosophy remains consistent: assets like gold, silver, and Bitcoin empower wealth preservation, while fiat currencies—especially the dollar, yen, and Canadian dollar—are destined to lose value over time due to inflation and monetary policy mismanagement.
Altcoins Surge as Bitcoin Dominance Wanes
Despite Bitcoin’s pullback, the broader crypto market shows resilience. Many altcoins are moving independently—or even inversely—to BTC’s price action. Ripple’s XRP stands out with a near 30% gain early in the week.
Market chatter suggests billionaire Elon Musk may invest $104 billion in XRP, though this claim lacks official confirmation and should be treated with caution. Still, positive developments around Ripple have fueled investor optimism.
According to Fox Business, New York’s top cryptocurrency regulator is reportedly close to approving Ripple’s new stablecoin, RLUSD. If confirmed, this could significantly expand Ripple’s utility in payments and cross-border transactions, boosting demand for XRP.
As capital rotates into altcoins, Bitcoin dominance—a key metric measuring BTC’s share of total crypto market capitalization—has begun to decline noticeably since the U.S. election results. A falling dominance often precedes or accompanies an "altcoin season," where non-Bitcoin cryptocurrencies outperform.
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Bitcoin Technical Analysis: Bullish Momentum Faces Resistance
FXStreet analyst Manish Chhetri notes that Bitcoin’s daily RSI (Relative Strength Index) sits at 65—above the neutral 50 level—indicating sustained bullish momentum. However, caution is warranted.
The MACD (Moving Average Convergence Divergence) indicator generated a bearish crossover on November 26, signaling potential downside pressure. This technical pattern suggests short-term profit-taking or consolidation may occur.
If Bitcoin fails to reclaim upward momentum, it could retest the critical psychological support zone at **$90,000**. A break below this level might accelerate selling sentiment and open the path toward Kiyosaki’s projected $60,000 target.
Conversely, regaining strength above $100,000 could reignite bullish momentum and restore confidence among retail and institutional traders alike.
XRP Technical Outlook: Rallying Toward $2.66 Amid Overbought Conditions
On Monday, XRP broke above $2.41 and continued its upward trajectory. According to Chhetri, if momentum holds, the next resistance level lies at **$2.66**—a key psychological and technical barrier.
However, the current RSI reading of 93 indicates extreme overbought conditions. Historically, such levels increase the likelihood of a pullback or consolidation phase as traders lock in profits.
A failure to sustain gains could see XRP retreat toward its immediate support at $1.96. Traders should monitor volume patterns and on-chain activity closely for early signs of reversal or continuation.
Core Market Trends and Investor Strategy
The recent market movements underscore several important dynamics:
- Volatility is normal: Sharp corrections are part of Bitcoin’s maturation cycle.
- Narrative rotation: Attention is shifting from pure BTC dominance to ecosystem growth via altcoins.
- Regulatory catalysts matter: Approvals like RLUSD can drive substantial price action.
- Sentiment swings fast: Influential voices like Kiyosaki can shift public perception overnight.
Investors should focus on long-term accumulation strategies rather than short-term noise. Dollar-cost averaging (DCA), portfolio diversification across digital assets, and staying informed through reliable sources remain essential practices.
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Frequently Asked Questions (FAQ)
Q: Why did Bitcoin drop over $2,000 suddenly?
A: While no single cause has been confirmed, typical triggers include leveraged position liquidations, macroeconomic concerns, or sentiment shifts following high-profile comments from influencers like Kiyosaki.
Q: Is a drop to $60,000 realistic for Bitcoin?
A: Technically possible, yes—especially if macro risks escalate or adoption slows. However, most long-term models still project higher prices over the next 12–24 months due to halving effects and increasing institutional interest.
Q: What is “altcoin season” and how do you spot it?
A: Altcoin season refers to periods when non-Bitcoin cryptocurrencies outperform BTC in terms of returns. It's often signaled by declining Bitcoin dominance, strong momentum in top altcoins like ETH, XRP, or SOL, and increased DeFi/NFT activity.
Q: Should I sell Bitcoin during a crash?
A: For long-term holders, crashes are often buying opportunities. Selling impulsively based on price drops can undermine wealth-building strategies. Always assess your risk tolerance and investment goals before making decisions.
Q: How does regulatory news affect crypto prices?
A: Regulation brings both risk and legitimacy. Positive developments—like approval of financial products or stablecoins—can boost investor confidence and drive prices up. Conversely, crackdowns or unclear rules may trigger sell-offs.
Q: Can social media influence crypto markets?
A: Absolutely. High-profile figures like Musk or Kiyosaki can sway sentiment rapidly through tweets or interviews. Always verify claims and avoid making decisions based solely on viral content.
The current phase of the crypto market reflects growing maturity amid turbulence. While short-term fluctuations grab headlines, the underlying trend points toward broader adoption, technological advancement, and increasing integration into global finance.
Staying educated, emotionally disciplined, and strategically positioned allows investors to not only survive but thrive through these cycles.