Robert Kiyosaki, the author of "Rich Dad Poor Dad," warns that "BTC bubble is about to burst," provoking backlash from the encryption community.

Bitcoin (BTC) reached a historic high of $123,000 last week, but Robert Kiyosaki, the author of "Rich Dad Poor Dad," unexpectedly warned investors that the Bitcoin bubble is about to burst. His proposed price collapse theory has sparked a backlash from the encryption community, and on-chain indicators seem to have a different interpretation.

Kiyosaki's Terrifying Bitcoin Prediction

Kiyosaki expressed his views on X (formerly Twitter), where he sternly warned that Bitcoin is about to crash, but surprisingly, he claimed that this is "good news" for long-term believers in Bitcoin.

He wrote: "The bubble is about to burst. When the bubble bursts, gold, silver, and Bitcoin are likely to collapse as well. Good news. If the prices of gold, silver, and Bitcoin plummet... I will buy in. Be careful."

In response, the crypto community countered Kiyosaki's remarks, with Brew Markets particularly criticizing his stance. He emphasized: "Do not listen to Robert Kiyosaki's investment advice."

Another X user expressed a similar viewpoint, pointing out: "You have been saying this for several years! Every time you mention the bubble bursting, you always bring up gold, silver, and Bitcoin."

The cryptocurrency community has pushed back against Kiyosaki's latest warning, and with the decline in Bitcoin Dominance, some even predict early signs of the upcoming Altcoin Season.

Is the season of altcoins coming?

The market has recently emphasized two emerging potential outcomes. Firstly, Bitcoin may briefly drop to retest key support levels, which is seen as a healthy adjustment before resuming the upward trend. This could eliminate the weaker side and reshape market sentiment.

Alternatively, when BTC consolidates, altcoins (especially those that have already been overextended) may experience deeper pullbacks.

However, both of these situations indicate that the volatility is temporary and not a complete reversal of the trend.

Kiyosaki, known for his outstanding market predictions, recently warned that a historic collapse could drive investors away from traditional assets and towards investing in Bitcoin.

Back in March of this year, he claimed that "the entire bubble" was bursting and called it the biggest crash in history.

On-chain indicator divergence: Bitcoin holders are strongly bullish

According to the analysis of data from IntoTheBlock, 94.25% of BTC holders are in a "profitable" state, meaning that the value of the Bitcoin they currently hold is higher than the price at which they purchased it.

At the same time, only 0.51% of holders are "losing", meaning they hold BTC and are in a losing position.

This distinct difference shows that the market sentiment is bullish, as most investors have taken profits and may be less willing to sell.

It can also reduce overall selling pressure, thereby helping to support a steady price recovery and even driving the next round of increases.

Therefore, the data indicates that Bitcoin may experience a rebound in the short term.

(Source: IntoTheBlock)