Crashes are The Best Times to Get Rich - Robert Kiyosaki

[serjent05]

Rober Kiyosaki[1], a person popular in the network marketing industry and founder of Rich Global and Rich Dad Company[2] stated that the best time to get rich is to get in during the market crash.  He stated that if the Bitcoin market continues to plunge, he is ready to get in and start buying.  His entry window is when BTC touches $20k[3]

“BITCOIN CRASHING. Great news,” he tweeted recently. “I am waiting for Bitcoin to crash to 20k. Will then wait for test of bottom which might be $17k. Once I know bottom is in I back up the truck. Crashes are the best times to get rich.”

He also states that "Bitcoin is the future of money" and thinks that the bottom of this current bull trend would be below $11k. Read more here:

Having an optimist view despite the recent Bear trend and crashes is one of the better traits traders should have.  We have known Bitcoin to have the ability to rebound and yet many had been pessimists and lots lose hope.  We should look at this bear market in a different view rather than Bitcoin being Doom and as a matter of fact, many known billionaires gain lots of profit by investing in a crashing company or stocks but have been proven to recover.

So what do you think about Kiyosaki's point of view, is it possible that "crashes are the best time to get rich"?


[1] https://en.wikipedia.org/wiki/Robert_Kiyosaki
[2] https://en.wikipedia.org/wiki/Rich_Dad
[3] https://finance.yahoo.com/news/crashes-best-times-rich-why-120000932.html

[Haunebu]

I completely agree with him. Personally, I have earned a lot of money by investing in BTC when it crashed due to various reasons now and then since it recovered somehow over time.

I have earned decent profits by investing in popular cryptocurrencies like ETH, LTC etc in a similar manner since I was confident that they would bounce back too. However, I always invested only what I was willing to lose.

You won't become rich overnight through this strategy. Long-term HODLING is the best approach in this case.

[Mr. Magkaisa]

Rober Kiyosaki[1], a person popular in the network marketing industry and founder of Rich Global and Rich Dad Company[2] stated that the best time to get rich is to get in during the market crash.  He stated that if the Bitcoin market continues to plunge, he is ready to get in and start buying.  His entry window is when BTC touches $20k[3]

“BITCOIN CRASHING. Great news,” he tweeted recently. “I am waiting for Bitcoin to crash to 20k. Will then wait for test of bottom which might be $17k. Once I know bottom is in I back up the truck. Crashes are the best times to get rich.”

He also states that "Bitcoin is the future of money" and thinks that the bottom of this current bull trend would be below $11k. Read more here:

Having an optimist view despite the recent Bear trend and crashes is one of the better traits traders should have.  We have known Bitcoin to have the ability to rebound and yet many had been pessimists and lots lose hope.  We should look at this bear market in a different view rather than Bitcoin being Doom and as a matter of fact, many known billionaires gain lots of profit by investing in a crashing company or stocks but have been proven to recover.

So what do you think about Kiyosaki's point of view, is it possible that "crashes are the best time to get rich"?


[1] https://en.wikipedia.org/wiki/Robert_Kiyosaki
[2] https://en.wikipedia.org/wiki/Rich_Dad
[3] https://finance.yahoo.com/news/crashes-best-times-rich-why-120000932.html

Well, in my own opinion about Robert Kiyosaki, I can't deny He was one of the tycoon businessman all over the world now.
And no wonder why He is anytime ready to invest into Bitcoin when the price value drop at 20K$ each, probably He knew that the
market was very volatile. I remembered when Bitcoin reached for the first time 20k$ during 2017, then dropped at 7000$ when 2020 came up. So, I guess Kiyosaki is right from this things. And I suggest when Bitcoin down to 20K$ that's the time I think to apply investing into
Bitcoin anyway then HOLD.

[bitzizzix]

Robert Kiyosaki made the concept seem too easy to implement, but it wasn't.
And enough people have fallen for practicing the teachings of Robert Kiyosaki, and his teachings are not wrong, but they are incomplete and make the situation seem much simpler than it really is.
and actually the concept must be equipped with discipline and consistency and also requires strong patience to create perfect results, and many good concepts from famous people but it all depends on the person who lives it.
and entering when the market is crashing is a good option and I agree with this and also most people do this depends on their patience waiting for the market to bounce even though it takes a very long time.

[Apocollapse]

I think we should look on the different perspective, he seems want to make Bitcoin price decrease more and he will started to buy it, this because if you read many articles about him, he always mention Bitcoin will become a future currency but he also mention this year it might be the lowest price in Bitcoin history before Bitcoin reach new ATH again.

There's some articles about him mention the price will hit x
1. https://www.newsbtc.com/news/bitcoin/robert-kiyosaki-i-will-buy-more-if-bitcoin-retest-20k/
2. https://news.btcminingvolt.io/uncategorized/robert-kiyosaki-says-we-are-in-biggest-bubble-in-world-history-warns-government-will-seize-all-cryptocurrencies/

In March, Kiyosaki said the U.S. dollar was about to implode, blaming President Biden for causing inflation. He recommended gold, silver, bitcoin (BTC), ethereum (ETH), and solana (SOL) as investments at the time.
https://news.bitcoin.com/rich-dad-poor-dads-robert-kiyosaki-plans-to-buy-bitcoin-when-the-bottom-is-in-17k/

In this article I don't know why he mention to buy centralized shitcoin while claim bullish about Bitcoin and seems already understand about it. I find like he's still doesn't understand at all and when he read an article wrote a word "decentralized" he will define that's coin is actually 100% "decentralized". But the fact is ETH and SOL aren't decentralized, but centralized.

[bittraffic]

Kiosaki has a youtube channel where they talk about investment all the time. What heis saying is no different to blood on the streets which is true also.

$20K is the most bottom for me but if it drops to $17k, its certainly kind of a depressed market once the price stays there for quite awhile. I suspect   if BTC is on this level, we are going to wait for the halving.  Its a long winter market which could even plunge deeper.

[mk4]

I agree with that take, but I don't necessarily agree with this specific 'strategy' mentioned whereas he's trying to time bottoms (or near bottoms). Timing bottoms is difficult as hell to do but is for some reason still a heavy goal of a lot of people. DCA, people!

[hugeblack]

I respect Robert T Kiyosaki but I think his current view is not accurate, if you wait for the bottom you won't get it. The chances of reaching 11k or 17k are very difficult compared to returning to the heights of 40 thousand, so I think that the reason for this prediction is to follow the same approach that happened in 2018 when the price fell after a month of stability.

Things in the world are still ambiguous, but by the end of the year we will witness good rises, and therefore expecting a bottom beyond 20k is difficult.

[Bttzed03]

Robert Kiyosaki made the concept seem too easy to implement, but it wasn't.

He make it looks easy and say it with confidence because he's probably been through market crashes in different markets and survived. His experience allows him to stay calm and think rationally while other people still panics. Also, he has more money to lose than most of us.

His bottom prediction could become true because we're still in the middle of 2022 and almost two years before the next halving. That's plenty of time for him to wait and change his strategy if the market doesn't play out the way he expected.

[jrrsparkles]

Its a very fundamental rule for every investor, I am not going eith his number but the ideology is what we have to take from the statement and you have to find your numbers because there is no one called expert to predict the price of bitcoin so just take the advantage of buying the bitcoin cheaper when its cheap but make sure you are not taking death dive as well.

[alterra57]

Robert Kiyosaki is a writer and an advertiser, not an investor. He made his money selling a book, not by nailing bottoms. It's like taking medical advice from a car mechanic.

[Fortify]

Rober Kiyosaki[1], a person popular in the network marketing industry and founder of Rich Global and Rich Dad Company[2] stated that the best time to get rich is to get in during the market crash.  He stated that if the Bitcoin market continues to plunge, he is ready to get in and start buying.  His entry window is when BTC touches $20k[3]

“BITCOIN CRASHING. Great news,” he tweeted recently. “I am waiting for Bitcoin to crash to 20k. Will then wait for test of bottom which might be $17k. Once I know bottom is in I back up the truck. Crashes are the best times to get rich.”

He also states that "Bitcoin is the future of money" and thinks that the bottom of this current bull trend would be below $11k. Read more here:

Having an optimist view despite the recent Bear trend and crashes is one of the better traits traders should have.  We have known Bitcoin to have the ability to rebound and yet many had been pessimists and lots lose hope.  We should look at this bear market in a different view rather than Bitcoin being Doom and as a matter of fact, many known billionaires gain lots of profit by investing in a crashing company or stocks but have been proven to recover.

So what do you think about Kiyosaki's point of view, is it possible that "crashes are the best time to get rich"?

They most definitely are a great time to get richer, but it comes with a caveat - such crashes are extremely rare and very hard to predict. I think something like a large recession which can drop markets happens every 8 years on average, with smaller corrections of around 10% happening every couple years. Trying to predict such crashes is so hard because the next crash almost never looks like any previous crash, as we saw with Covid and the war in Ukraine. Now we are in an inflationary spiral which might trigger a recession but it could be played out slowly over many years. Trying to time when to go in with all your money is hard and in most will keep a small pot separate while keeping most of their money invested at all times.

[m2017]

So what do you think about Kiyosaki's point of view,

Firstly, I still don’t understand why Kiyosaki is idolized as a great and successful investor. This man made his fortune by writing and selling books, not by investing. How can he teach what he has not excelled at? It seems to me that it is necessary to pass the words of public and famous people through the filter of doubts, and also not to elevate their points of view to the absolute.

is it possible that "crashes are the best time to get rich"?

Maybe yes, maybe not. Far from always, the "fall" value means that in the future there will be growth and buyers at low prices will bring fabulous profits. Enron is a prime example of this.

As for bitcoin, I think we're going to see a rise and the current (and future, if it happens) fall is a great opportunity to buy this asset. I am not a psychic or a super-investor like Kiyosaki, therefore, I can't know what will happen in the future. My forecast is based only on faith and hope, which in itself can't be a reliable signal for recommendations.

[serjent05]

So what do you think about Kiyosaki's point of view,

Firstly, I still don’t understand why Kiyosaki is idolized as a great and successful investor. This man made his fortune by writing and selling books, not by investing. How can he teach what he has not excelled at? It seems to me that it is necessary to pass the words of public and famous people through the filter of doubts, and also not to elevate their points of view to the absolute.

I don't think he was idolized or known as an investor but rather as a motivator and financial educator/guru.  He has concepts that fit in as an inspiration to those who struggle to have financial freedom.

I respect Robert T Kiyosaki but I think his current view is not accurate, if you wait for the bottom you won't get it. The chances of reaching 11k or 17k are very difficult compared to returning to the heights of 40 thousand, so I think that the reason for this prediction is to follow the same approach that happened in 2018 when the price fell after a month of stability.

Things in the world are still ambiguous, but by the end of the year we will witness good rises, and therefore expecting a bottom beyond 20k is difficult.

I believe he just set his entry points, just like any other trader who wanted to get into a currently crashing market.  I don't see any point in citing whether it is accurate or not after all it was his own opinion that the price would possibly drop at that stated price.

I agree with that take, but I don't necessarily agree with this specific 'strategy' mentioned whereas he's trying to time bottoms (or near bottoms). Timing bottoms is difficult as hell to do but is for some reason still a heavy goal of a lot of people. DCA, people!

I also believe that Dollar-cost averaging is still the better option to accumulate Bitcoin during the bear market.

Robert Kiyosaki is a writer and an advertiser, not an investor. He made his money selling a book, not by nailing bottoms. It's like taking medical advice from a car mechanic.

With this article I believe the author is selling Kiyosaki's thought of "market in a downtrend is the best way to accumulate profit".  Aside from that being a financial advisor/guru, he has a grasp of what is happening in the world's economy and how the financial system works.   Even though he made money selling books, you should check what kind of book he is selling.  Besides, he can't write any related topics and concept about finance or economy if he is lacking knowledge about it.

Robert Toru Kiyosaki is an American businessman and author. Kiyosaki is the founder of Rich Global LLC and the Rich Dad Company, a private financial education company that provides personal finance and business education to people through books and videos.

[Uang_kartal]

he has a reason that he thinks is the right strength, and the right gap to propose bitcoin in his portfolio. when fud is scattered on all social networks, I don't think it will make Fomo too fast on (bitcoin). The density and bitcoin users are still dense so that in my opinion bitcoin is still running in place and this neutral position has been enough for a few days.
if robert kiyosaki opens his (financial) account when someone else closes (a person's pain and bankruptcy from the peak price when buying). It's not like prey or prey. the bitcoin market is ticking and every individual has a plan.and execution of the trading plan at any time.

[mk4]

I also believe that Dollar-cost averaging is still the better option to accumulate Bitcoin during the bear market.

It's the far better option for most people regardless if it's a bear market or a bull market. Timing markets wrecks inexperienced people, which is pretty much a huge majority of people.

[crwth]

It's like what they also say "Buy when others are fearful, sell when others are Greedy". I'm not sure if it was by Warren Buffet or someone famous who got rich in trading.

Anyway, I agree with what could be the best time to get in. It's always going to be a great idea to want to buy every time it dips or has a specific frequency, like every week whenever you have the money to buy something. It's one of the best ways that you could be sure that it's going to be a fruitful thing in the long run. As long as you believe that you can get more of it, it's not bad. Continue to believe in one thing, and it will surely reward you for something.

[Mauser]

I really like Robert Kiyosaki, his book "Rich Dad, Poor Dad" was a great read. He was among my first ever books I bought about money management, investing and how to get rich. The mindset he promotes is very valuable, it gives a new viewpoint to look at things from the eyes of an entrepreneur instead of an employee. The question I always have with Kiyosaki is how much money did he actually make the traditional way, and how much money he made through his books and popularity. He is a big motivational speaker and sells a lot of merchandise for his books. If he only made all his wealth through the rich dad, poor dad brand than I don't know if we should listen to him for investing advice. Nonetheless buying Bitcoins at 17,000 USD is a good idea. I would expect most of us to do the same, if the price ever drops so far. I am still sceptical that the price will drop so low.

[Jemzx00]

I also believe that Dollar-cost averaging is still the better option to accumulate Bitcoin during the bear market.

It's the far better option for most people regardless if it's a bear market or a bull market. Timing markets wrecks inexperienced people, which is pretty much a huge majority of people.

I agree, it is a much better option with lower risk especially during a bearish market. I have already experienced many loses by timing the market even with experience however if you will be able to time it right, the amount you will earn might be worth it. But still I wouldn't advise people to time the market especially if you don't have enough time and knowledge for it.

[palle11]

Robert Kiyosaki is a writer and an advertiser, not an investor. He made his money selling a book, not by nailing bottoms. It's like taking medical advice from a car mechanic.

If my memory is serving me right also I think Robert have not really been a strong supporter of bitcoin like Warren buffet. Except I'm not totally correct on Robert position about bitcoin.

Yes looking for down of bitcoin is very essential but at same time difficult to determine. Price isn't really going down sonce last week after a jump from $28k to $32k. I hope Robert is really going to go in when the drop happens though and not to go write some more books and make money from buyers