Bitcoin’s market cycles may stretch longer as ISM manufacturing data remains weak, hinting at extended macro headwinds and slower business recovery.
The Institute for Supply Management’s (ISM) Manufacturing Purchasing Managers’ Index (PMI) has historically aligned with major peaks in Bitcoin’s market cycles — a pattern that, if repeated, could imply a longer-than-usual cycle this time around.
The correlation between the ISM PMI and Bitcoin’s (BTC) price was first popularized by Real Vision’s Raoul Pal and has since gained traction among macro-focused crypto analysts.
“All 3 past Bitcoin cycle tops have broadly aligned with this monthly, oscillating index,” analyst Colin Talks Crypto noted, referencing the recurring overlap between Bitcoin’s market highs and the PMI’s cyclical peaks.
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Rich Dad, Poor Dad author Robert Kiyosaki says he prefers accumulating gold, silver, oil, Bitcoin, and Ether, which he deems “hard money.” Rich Dad Poor Dad author Robert Kiyosaki, a strong proponent for Bitcoin, says it is “criminal” that kids are being taught from a young age to work for an inflationary currency while arguing the virtues of Bitcoin. “Go to school, get a job, work hard, save money, and invest in a 401(k) full of garbage,” Kiyosaki said during a podcast hosted by Bitcoin Collective Co-Founder Jordan Walker on Wednesday. Kiyosaki pulled no punches as he lambasted central banks, equating them to “criminal organizations” and even calling them “Marxists,” as he says that every time central banks print money, it makes the rich richer, while the other economic classes suffer.Read more