Robert Kiyosaki warns of Bitcoin's August curse… US cryptocurrency news

Welcome to the US Cryptocurrency Morning Briefing. We'll briefly summarize today's key cryptocurrency developments.

Pay attention to the Bitcoin (BTC) market charts while having coffee. As August approaches, rumors about the so-called curse are resurfacing. Debates are emerging among cryptocurrency veterans, investors, and analysts. Some fear it, while others like Robert Kiyosaki are anticipating it.

Today's Cryptocurrency News: Robert Kiyosaki Accepts 'Bitcoin August Curse'

Well-known for Rich Dad Poor Dad, Robert Kiyosaki has issued a provocative warning about the Bitcoin August curse. He suggests that a sharp price drop this month could be desirable.

"Will the Bitcoin August curse drop Bitcoin price below $90,000? I hope so." – Kiyosaki wrote on X.

He viewed the potential crash as a golden opportunity to strengthen his BTC position. Instead of seeing volatility as a threat, Kiyosaki emphasized Bitcoin's long-term value in contrast with the fiat currency system managed by "incompetent doctors" at the Fed and Treasury.

"The problem is not Bitcoin. The real problem is the incompetent doctors operating trillions of dollars of debt and a 'swamp'." – Kiyosaki said.

Kiyosaki's statements came after summer educational events including The Collective and Limitless Financial Education Summit. He is reported to have learned from financial thinkers like Jim Rickards, Brent Johnson, and Larry Lepard.

Notably, these detectives are all critics of fiat currency and supporters of hard assets like gold and Bitcoin.

According to Kiyosaki, the so-called curse could serve as a "stress test" that casually distinguishes tourists from settlers in cryptocurrency.

"The Bitcoin August curse will make most Bitcoin investors wealthier." – Kiyosaki concluded.

Analysts View Bitcoin Crash as a Catalyst

Kiyosaki's perspective sparked controversy, with investors saying price crashes are filters, not failures.

"Most people fear the 'Bitcoin August curse' because they don't understand the real game... A crash is a gift. But only when you know what you have." – a user mentioned.

Meanwhile, analysts are also weighing in. Quinten Francois noted that while retail investors panic sell, long-term holders who "only buy and never sell" are accumulating more BTC.

Another analyst observed a new pattern similar to Friday's short squeeze.

This narrative about Bitcoin volatility is becoming increasingly dominant among cryptocurrency enthusiasts as a financial war, not a failure.

Kiyosaki and others argue that the true risk is not BTC's price movements, but the gradual erosion of value due to inflation and monetary policy mistakes.

As Bitcoin hovers around major levels in early August, the debate intensifies. Is the August curse a disappointment, or the final settlement before a new rise?

Kiyosaki's game plan is clear, and he welcomes it with an open mind and a full wallet.

This aligns with his recent stance, which was reported in previous US cryptocurrency news. BeInCrypto reported that Kiyosaki urged investors to buy Bitcoin while dismissing ETFs as "paper guns".

Today's Chart

Summary of today's notable US cryptocurrency news:

• Cryptocurrency inflow reversed to $223 million due to FOMC and economic data issues.
• Forget the new token—what is the reason Murad Mahmudov is betting on an old meme coin?
• Bitcoin's rebound may not be a strong trend yet. It must first cross $117,000.
• What did cryptocurrency whales buy and sell during the weekend?
• High interest? Analysts claim Paradigm holds a Hyperliquid token worth $765 million.
• Lido's market share has reached a three-year low. Is Ethereum's staking giant losing its grip?
• Four US economic signals that could hinder Bitcoin's recovery this week.
• XRP rose by 5%. Is this the start of a recovery or just a dead cat bounce?

Cryptocurrency Stock Market Pre-Opening Overview