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Robert Kiyosaki: Bitcoin Price ‘About to Explode’ as Fed Cuts Rates

Robert Kiyosaki: Bitcoin Price ‘About to Explode’ as Fed Cuts RatesRich Dad Poor Dad author Robert Kiyosaki believes that bitcoin’s price is “about to explode” as the Federal Reserve cuts interest rates. He predicted that as interest rates drop, investors should abandon “fake assets” and turn to real ones like bitcoin, gold, and silver. Kiyosaki also highlighted rising inflation, warning of its impact on retirees […]

Massive $83,000,000,000 Pile of Gold Discovered in China – Here’s How Much It Will Increase Supply

Ethereum Shanghai hard fork: ETH price set for more gains versus Bitcoin in April

Ethereum price has been gaining momentum in April, even against Bitcoin, as the much-anticipated Shanghai hard fork is just days away.

Ethereum's Ether (ETH) token dropped by over 7.5% in its Bitcoin (BTC) pair in 2023. But ETH/BTC may wipe its year-to-date (YTD) losses entirely in April as Ethereum's long-awaited Shanghai hard fork is just days away.

The upgrade is set for April 12, enabling Ethereum stakers to withdraw around 1.1 billion ETH in rewards — worth over $2 billion as of April 8. 

ETH price undergoes key technical bounce

Many experts see the hard fork as bullish for Ether in the long term. For instance, the Shanghai buzz has helped Ether outperform Bitcoin in April so far.

As a result, the ETH/BTC pair has risen by about 4.75% month-to-date to reach 0.066 BTC as of April 8, a nearly 8% rebound since March 20. 

The bounce was largely expected, particularly as ETH/BTC dropped to its historical ascending trendline support. Now, the upside move raises the prospects of an extended bullish retracement toward its descending trendline resistance, marked as a "sell zone" in the chart below.

ETH/BTC three-day price chart. Source: TradingView

The fractal-based outlook puts Ether on target for 0.075 BTC by June, up 10% versus current price levels. Meanwhile, the pair's upside target for April appears to be its 50-3D exponential moving average (50-3D EMA; the red wave) near 0.069 BTC.

Conversely, a decisive close below the 200-3D EMA (the blue wave) near 0.066 BTC, coinciding support/resistance level near 0.067 BTC, risks delaying or — in the worst case scenario — invalidating the bullish retracement setup.

This bearish argument echoes independent market analyst CrediBULL Crypto who expects strong selling pressure near the 0.067 BTC resistance level that would lead to a 50% drop in 2023. 

ETH/BTC weekly price chart. Source: TradingView/CrediBULL Crypto

Ethereum vs. dollar outlook

The ETH/USD pair has rallied by more than 50% in 2023, primarily due to similar uptrends elsewhere in the crypto market.

A weakening dollar, lower U.S. Treasury yields, and expectations of a Federal Reserve pivot on interest rate hikes have helped cryptocurrencies rise across the board in Q1. These catalysts will likely remain in the spotlight until the Federal Open Market Committee (FOMC) meeting in May.

As a result, Ether could sustain its yearly gains in April, consolidating inside the $1,800-2,000 range until the Fed decision.

Related: 3 key Ethereum price metrics cast doubt on the strength of ETH’s recent rally

Moreover, a decisive breakout at current levels could result in extended gains with a second-quarter ETH price target of over $3,000.

ETH/USD three-day price chart. Source: TradingView

On the other hand, the bears will attempt to pull the price down for a close below $1,800 with the triangle's lower trendline near $1,600 as its downside target.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Massive $83,000,000,000 Pile of Gold Discovered in China – Here’s How Much It Will Increase Supply

Historical Bitcoin price fractal hints at rally toward $50K

Bitcoin price in 2023 mirrors a 2015 fractal that saw BTC price doubling from $350 to $700 in seven months.

Bitcoin (BTC) could rally toward $50,000 in 2023, according to a historical price fractal highlighted by popular market analyst Mags.

Bitcoin price trend in 2015 vs. 2023

The chart fractal highlights the similarities between Bitcoin's ongoing price trends and those recorded after the completion of the 2013-2015 bear market.

That includes Bitcoin's consolidation inside the $200-300 range between January 2015 and August 2015, which appears identical to its consolidation between the $18,500-25,000 range after the supposed completion of its 2021-2022 bear market.

BTC/USD price performance comparison between 2015 and 2023. Source: TradingView/Mags

BTC's price broke above the $16,000-25,000 range in March 2023, prompting Mags to highlight its resemblance to the breakout above the $200-300 range in October 2015.

Since this resulted in a rally toward $700 in June 2016, the analyst sees the scenario potentially repeating in 2023, with the BTC price doubling to $50,000.

"Being bearish here [when Bitcoin's price is around $28,000] is like being bearish at $350," Mags added.

Liquidity crunch may spoil Bitcoin price rally

The bullish argument for Bitcoin comes amid anticipations that the U.S. Federal Reserve would slow the pace of its interest rate hikes.

Due to lower rate expectations, the yield on the benchmark U.S. 10-year Treasury note has declined. That, in turn, has boosted investors' appetite for zero-yielding assets like Bitcoin and gold.

US10Y weekly chart versus BTC/USD and XAU/USD. Source: TradingView

In addition, lower yields have also sapped U.S. dollar demand with the dollar losing 1.33% in 2023 versus a basket of top foreign currencies. Since Bitcoin's value is largely denominated in the dollar, it means higher prices for BTC/USD.

Related: Latest Bitcoin price data suggests double top above $200K in 2025

However, Bloomberg analyst Mike McGlone has cautioned about a potential bull trap in the Bitcoin market due to a mounting liquidity crunch.

He said:

"It may be illogical to expect the stock market, crude oil, copper, and the Bloomberg Galaxy Crypto Index (BGCI) sustain the recent bounces with year-over-year measures of money supply and commercial bank deposits falling around 2%."

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Massive $83,000,000,000 Pile of Gold Discovered in China – Here’s How Much It Will Increase Supply

Report: China Suspected of Stockpiling Gold to ‘Cut Greenback Dependence’

Report: China Suspected of Stockpiling Gold to ‘Cut Greenback Dependence’During the first week of November, the World Gold Council’s (WGC) report that covered last quarter’s global gold demand noted that central banks worldwide purchased close to 400 tons of gold in Q3 2022. The study highlighted that it was the “most on record,” and the WGC researchers also spotted a “substantial estimate for unreported […]

Massive $83,000,000,000 Pile of Gold Discovered in China – Here’s How Much It Will Increase Supply