Rich Dad Poor Dad’ Author Foresees Bitcoin Entering Parabolic ‘Banana’ Zone

Bitcoin Set for Parabolic Surge, Says Robert Kiyosaki

Robert Kiyosaki, famed for his book “Rich Dad Poor Dad” and his bullish stance on cryptocurrencies, has recently expressed strong optimism about Bitcoin’s future. In a post on X (formerly Twitter) on Wednesday, Kiyosaki highlighted that Bitcoin might soon enter what he referred to as the “Banana Zone,” a term coined by Raoul Pal, a former Goldman Sachs hedge fund manager. This zone indicates a phase of exuberant and significant price growth for the cryptocurrency.

Kiyosaki Echoes Pal’s ‘Banana Zone’ Forecast

Kiyosaki’s endorsement follows an interview of Raoul Pal by Scott Melker, where Pal predicted a strong performance for Bitcoin and other cryptocurrencies, particularly in the last quarter of a U.S. presidential election year. Pal noted that historically, this period tends to be highly favorable for such assets.

“The backend quarter of an election year is a true banana zone for all assets,” Pal stated. “It always is. So you know that you’ve got a very, very, very high probability that by autumn things are utterly ripping. I mean, how long before ETH, Bitcoin [and] SOL break their recent highs?”

Kiyosaki, trusting Pal’s insights given his reputable background, shared that Pal’s teachings prompted him to invest in Bitcoin. Kiyosaki bought 30 Bitcoin when it was valued at $6,000 and has continued to invest in the cryptocurrency, which is now priced around $60,000.

“Thanks to Raoul’s YouTube lessons… I understand why Bitcoin is entering ‘The Banana Zone,’” Kiyosaki said.

Challenges Ahead: Mt. Gox Payout and Market Concerns

Despite Kiyosaki’s bullish outlook, Bitcoin has faced recent declines. This week, Bitcoin fell below $60,000, marking one of the year’s worst weekly performances for the crypto market. This drop coincides with the impending payout from the bankrupt Mt. Gox exchange, expected to distribute over $9 billion in Bitcoin and other assets by the end of October.

Additionally, investor sentiment has been cautious, with Bitcoin spot ETFs experiencing outflows for seven consecutive days, totaling $174 million as of June 24. Concerns about potential interest rate hikes by the Federal Reserve also contribute to the market’s current unease.