[2024-10-13] Robert Kiyosaki Predicts 'Everything Crash': ...

[chmod755]

Robert Kiyosaki Predicts 'Everything Crash': Bitcoin May Drop to $5,000 Amid Market Collapse

Rich Dad Poor Dad author Robert Kiyosaki predicts a catastrophic stock market crash and the collapse of “The Everything Bubble,” warning that gold, silver, and bitcoin will nosedive, triggering a global depression. He urges investors to brace for financial turmoil, saying only the prepared will emerge wealthier from the ruins. “Take bitcoin for example… it may crash to $5,000 a coin … then boom to $100,000 to $250,000 and higher,” he noted.

‘Everything Crash’ Looms: Kiyosaki Foresees Bitcoin and Stock Collapse — Global Chaos Ahead

Robert Kiyosaki, author of Rich Dad Poor Dad, shared his insights on the U.S. economy, gold, bitcoin, and market trends on social media platform X on Saturday. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.

He pointed to gold’s all-time high prices but cautioned: “Unfortunately, higher gold prices generally mean investors are becoming pessimistic. Many investors shift out of stocks and start buying defensive assets. So higher gold prices are not necessarily a good sign.” Kiyosaki expects a significant stock market crash, declaring:

If a major stock market crash occurs … which I am expecting … because the stock market has been high for too many years.

“This is not good news for people who do not own gold, silver, and bitcoin,” he opined. The acclaimed author then encouraged people to prepare by studying, joining investment clubs, and watching for post-crash bargains. “Then in a few years … when another bull market rises … you will be one of the richer, smarter investors,” he foresees.

In a follow-up post, Kiyosaki warned of “The Everything Bubble,” driven by money printed during the 2008 financial crisis. He predicted:

The Everything Bubble is going to turn into ‘The Everything Crash.’ Simply said, everything will crash, including gold, silver, and bitcoin.

He compared the situation to a catastrophe, stating that the bubble will burst like Mt. Vesuvius, with the crash being detrimental for most people. He warned it could trigger a “global depression” similar to the one narrowly avoided in 2008.

Despite the bleak outlook, Kiyosaki believes those prepared will prosper. “After the everything crash … that follows the everything bubble … the prepared will get really rich. I plan on being one of the prepared … I plan on becoming even richer… and I want you to become richer too.”

He noted:

Take bitcoin for example … it may crash to $5,000 a coin … then boom to $100,000 to $250,000 and higher.

“Obviously, I will be buying all the bitcoin I can, as well as other assets, at bargain basement prices,” Kiyosaki emphasized. “KISS: Keeping It Super Simple … the best time to get rich is coming again.”

He concluded by advising investors to aim for wealth, not to fall victim to the actions of the Federal Reserve and Treasury. He urged them to be patient, join investment clubs, attend seminars, network with proactive individuals, distance themselves from unhelpful friendships, study, discuss, and prepare for the future.

Source: https://news.bitcoin.com/robert-kiyosaki-predicts-everything-crash-bitcoin-may-drop-to-5000-amid-market-collapse/

[Oshosondy]

He did not directly said bitcoin will crash to $5000. He only used it as an example but people then take it seriously. But what I think he meanst is how volatile bitcoin can be at times and how it will rise back and even rise higher. But also he make some speculations that can be very unreasonable sometimes.

About bitcoin drop to $5000, that is not happening again. The last fall which was massive was $15550 or so which was in 2022. Bitcoin has not dropped to or below his last massive dropped price before. This is one of the reasons it is called an asset of increasing value.

If bitcoin bear market begins, I do not thinking bitcoin will drop below $20000.

[m2017]

I could take Kiyosaki's statements about finance seriously if he were not just a writer who makes money selling his financial fiction.

Kiyosaki loses nothing from making predictions like "Everything Crash", even if these predictions turn out to be unrealistic and contain vague formulations without any specifics.