Crashes are The Best Times to Get Rich - Robert Kiyosaki

[arwin100]

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

With my long stay here in the crypto market, i realized that it's really the big crashes that make the best time to invest in the market. Although not all realized that but the truth is the bear market is always the start of wealth accumulation. The reason why a lot starts to acquire a lot of bitcoin during bearish market because it could make them instantly rich once bull run starts.

But sometimes in times when crashes occur some people don't have money to spend to buy more alts and get rich later because majority are just on short trades then the profits they cashout their after that. That's why only few people got fortune on this that's why I'm not surprised at all seeing people telling that if they only buy some of alts at that time they will be rich for now, so I guess this statement should really be taken by anyone who want to join the scene and worry about those dumps coming.

[AndySt]

Well, it's not for nothing that they say that those who don't take risks don't drink champagne I would prefer to earn in more favorable times and in more favorable conditions, but still the fact remains that the current decline of bitcoin is a wonderful chance to raise your capital quickly. Another question is that such times are risky and not everyone has enough level of endurance not to give in to panic and vice versa excessive euphoria and correctly find the moment when you need not to miss that cherished moment when the asset is located at the very bottom. But it is still better to earn on the constant growth of the asset I also think that now is not the limit of the bear market, but I still think and hope that it will not come to 11k.

[South Park]

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

Without a doubt this is true, most people spend way beyond their means, which means that when something goes wrong then they do not have cash to settle their debts and solve their problems so they have to sell their assets for a bad price, if you are smart and you have money around when that happens then you can buy for a fraction of the price that it would have otherwise cost you to buy what you want, and right now you can buy bitcoin for a huge discount after the crash caused by luna, so without a doubt this is an opportunity that we cannot waste.

[Poker Player]

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

Well, it's a general truth, and it happens not only regarding Bitcoin. In the RE market, for example, it is often said that you make the profit by buying cheap. Bear markets in general are good times to buy, and although it is difficult to hit the bottom but it is not necessary to hit the bottom to buy cheap.

In the Bitcoin example, where do we expect the price to be the next cycle? I think the absolute minimum will be to break $100K. So, if we are now about $30K it is a good time to buy, regardless of whether the bottom this cycle will be lower. If it goes lower then you buy more.

[lovesmayfamilis]

No matter what happens, there will always be people who can benefit from the current situation. I think Robert Kiyosaki is a good motivator. I don't know if he always follows his own rules, but his books are really impressive.

Correct conclusions must always justify any risk. How many bitcoins did Michael Saylor buy? The difference is that someone won't panic if they don't get an immediate benefit, but simply wait for the right moment. But ordinary people, who are the majority, must weigh their spending so as not to be left without a livelihood, investing all their savings and having a dream of future wealth behind them.

[doomloop]

Remember how Bitcoin crashed to $3k and a lot of people were waiting for it to crash to $1k, and they refused to buy until Bitcoin will drop to that level, and Bitcoin started growing very fast, so these people missed on the good opportunity because of their tunnel vision. Maybe we'll never see $20k again? Why not buy now or soon, if you believe that Bitcoin will be worth much more? Trading is not about buying at the absolute bottom and selling at absolute top, just making good profit consistently will make you rich.

Yeah I agree, bitcoin dropping down is possible, because of its volatility; no doubt about that because I also believe that if anything makes Bitcoin drop to $11k today, there’s every tendency that you might as well assume and believe it can go down further to maybe $7k or $5k but just at this point, it might in full confidence as I have seen several times, bounce all the way back up.

Just like you said, I also witnessed and remembered the period it fell to $3k. There were a lots of assumptions that it would touch $1k but to their greatest shock - it rose back up with speed and agility.

[palle11]

Just like you said, I also witnessed and remembered the period it fell to $3k. There were a lots of assumptions that it would touch $1k but to their greatest shock - it rose back up with speed and agility.

I witnessed also this time. It was around 2018/2019 and down to early 2020 during the covid-19. Usually there are prediction for more down to come at the time that it got that low to $3k. This time the prediction for more down is not really coming up strong because people are still feeling all is not the same with the past indices because of institutional investors, adoption and use case value from platforms also.

[NeuroticFish]

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

I'm a bit late to the party but imho he's right and wrong in the same time.
Yes, it's easiest to get rich when the prices are crashing. But in the same time, not all the prices that have crashed will get back to high levels, hence it's identically easy to become poor by buying at crashed price.


I see people give examples with Bitcoin when the price was low. Now it's low too compared with the ATH, remember?
But somehow people don't seem to tell about the way-too-many altcoins (some shitcoins, some not so bad, but clearly unlucky) that have never recovered after the 2018-2019 crypto winter.

[Vaculin]

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

I have to agree with you OP. Though most of the people tends to panic whenever a sudden market crash happens, but it should not be the correct response when the market plunges. Not all realized this but the market crashes are definitely the biggest opportunities to become rich. This is the best time to fill in your portfolio with bitcoin and diversify with some solid altcoins. Once the market turns bullish, you will have the best profits ever as you are selling them at a very high and reasonable price that will instantly create a big leap in our life's economy.

[BuNga_cute]

I have to agree with you OP. Though most of the people tends to panic whenever a sudden market crash happens, but it should not be the correct response when the market plunges. Not all realized this but the market crashes are definitely the biggest opportunities to become rich. This is the best time to fill in your portfolio with bitcoin and diversify with some solid altcoins. Once the market turns bullish, you will have the best profits ever as you are selling them at a very high and reasonable price that will instantly create a big leap in our life's economy.

I'm also one of those people who agree that when a market crash occurs, it's actually our chance to get rich. I can say that because I have good
experience and knowledge of crypto world. But many people want to buy crypto at a low price, so that they can make big profits. However,
when a market crash occurs and makes all coins experience a very deep decline, as you said most people tend to panic. Whereas when the market
crash is our opportunity to buy crypto at low prices, but most people are too focused on seeing their assets go down drastically.

Therefore panic occurred, and they chose to sell their crypto instead of having to buy more coins when the market crash occurred. Whereas what
we should do is remain calm and must believe the market crash is only temporary, so we are braver to hold the coins we have and buy again when
the market crash occurs. Therefore, it is very important that we learn about the crypto world first before deciding to invest in crypto, so at least
we know how the crypto world works and don't make wrong decisions when a market crash occurs.

[TimeTeller]

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

I'm a bit late to the party but imho he's right and wrong in the same time.
Yes, it's easiest to get rich when the prices are crashing. But in the same time, not all the prices that have crashed will get back to high levels, hence it's identically easy to become poor by buying at crashed price.


I see people give examples with Bitcoin when the price was low. Now it's low too compared with the ATH, remember?
But somehow people don't seem to tell about the way-too-many altcoins (some shitcoins, some not so bad, but clearly unlucky) that have never recovered after the 2018-2019 crypto winter.

This is really a subjective matter to me and it depends on the strategy of the person how he can take advantage of the market.
It is also highly dependent on which coin you will be buying and holding, and selling at your own time.
The suggestion seems easy but it is a complex one when you try to apply it on yourself.
Because there are many considerations that you need to think of before buying a specific coin and hold it.

[Yaunfitda]

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

I'm a bit late to the party but imho he's right and wrong in the same time.
Yes, it's easiest to get rich when the prices are crashing. But in the same time, not all the prices that have crashed will get back to high levels, hence it's identically easy to become poor by buying at crashed price.


I see people give examples with Bitcoin when the price was low. Now it's low too compared with the ATH, remember?
But somehow people don't seem to tell about the way-too-many altcoins (some shitcoins, some not so bad, but clearly unlucky) that have never recovered after the 2018-2019 crypto winter.

This is really a subjective matter to me and it depends on the strategy of the person how he can take advantage of the market.
It is also highly dependent on which coin you will be buying and holding, and selling at your own time.
The suggestion seems easy but it is a complex one when you try to apply it on yourself.
Because there are many considerations that you need to think of before buying a specific coin and hold it.

Another thing though, that is if you have the mentality and obviously the most important of all the capital. We can all say that we all wanted to buy and hold, but then again, we get emotional and sell it at the wrong time. Same thing with no capital at hand, the opportunity is there, but unfortunately, we don't have the money right away. So it depends on the individual and hopefully if will fall on the right time, when to buy and how long the individual will hold the coin to maximize the profits.

[Vaskiy]

When the market is bullish and the price is at the peak, we have the possible chances of making profits at the shortest. This has got risk, but the bull market will assure growth whereas with bear market the entry point will be at the bottom. Here we need the patience, because the market being bearish takes time for takeoff. Here the risk is low, compared to buying at the top and booking the profit.

[famososMuertos]

At this specific point of what is raised, it is not something that on average is something rare in the history of bitcoin, that is, it is not saying anything that cannot be understood by looking at the hundreds of times that bitcoin has been in this situation and If we assume that the ATH is the goal to overcome, with bitcoin the best moment is always its worst fall in relation to its last ATH.

By the way think that a crash is an efficient way to become a millionaire with bitcoin, it is a worn-out thought and that in the longevity of bitcoin each new ATH is a unique investment opportunity, that should be the reference

[barbara44]

These are individual opinions to be honest though because as far as I am concerned, there’s literally no analysis that is 80% accurate, so I believe he said this because he felt that would only naturally be right that after a crash, comes a buy and then comes the pump. He failed to understand that given the stats of Bitcoin, it is practically much harder and more likely impossible that Bitcoin would hit $11k as he has said, compared to the possibility of hitting $40k because at this point the market is doing so much to the price, so much that it's only right to say It would be increasing, topped with the fact that we have roughly 10% of Bitcoin left.

[worle1bm]

Have gone through his Rich dad poor dad and like him for also supporting bitcoin and making people realise how inflation will rob them in future so his this approach is correct as if you see most rich men are made at tough times.If you can time out it perfectly you will make enough profits in long although it's hard but not impossible.Even if not just invest some at dips and everything will be fine if you could hold for some time the profits will be in your hands.

[Iadegbola34]

Bull markets make you money, bear markets make you rich. While everyone enjoys bull markets, green candles and the weekly increasing net worth as it pads their ego, bull markets aren't where you get rich. Bear markets are the rare opportunity for wealth transfers, and are where crypto millionaires are made!

I've posted a similar opinion on another thread that seems to be in consonance with the opinion of Robert. I've always been a fan of Robert kiyosaki and I've read most of his books on financial discipline.

[xSkylarx]

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

He is precisely correct because these crashes are the one that will give you huge percentage of profit once the market goes up again rather than buying only when it starts to go up or everyone is bullish again. If you want to maximize the profit that you'll earn, don't be afraid to buy during these crashes. But keep in mind that don't go all-in during those time as no one knows if it will dip more. Always have a fund incase it goes deeper even more.

[Kemarit]

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

He is precisely correct because these crashes are the one that will give you huge percentage of profit once the market goes up again rather than buying only when it starts to go up or everyone is bullish again. If you want to maximize the profit that you'll earn, don't be afraid to buy during these crashes. But keep in mind that don't go all-in during those time as no one knows if it will dip more. Always have a fund incase it goes deeper even more.

Yeah, and it's a no brainer, market crashes offer a lot of opportunities for us. Just imagine buying our favorite crypto as a discounted price. This has been a proven strategy already. But some reasons, newbies are not aware of this effective strategy. So they don't buy when there is crashes, but instead when the price is at the top price. It will take them experience to totally understand what a bearish market could bring for them. It's not all negative, on the contrary, it's an opportunity that might not come along again.

[serjent05]

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

He is precisely correct because these crashes are the one that will give you huge percentage of profit once the market goes up again rather than buying only when it starts to go up or everyone is bullish again. If you want to maximize the profit that you'll earn, don't be afraid to buy during these crashes. But keep in mind that don't go all-in during those time as no one knows if it will dip more. Always have a fund incase it goes deeper even more.

DCA is the key to maximizing profit and not missing the opportunity to buy the dip.  I agree not to go all-in because of the reason you stated.

When the market is bullish and the price is at the peak, we have the possible chances of making profits at the shortest. This has got risk, but the bull market will assure growth whereas with bear market the entry point will be at the bottom. Here we need the patience, because the market being bearish takes time for takeoff. Here the risk is low, compared to buying at the top and booking the profit.

That is why many advise us to only invest our extra money because it may take time before we can see profit from our investment especially since the Bitcoin bear market often lasts for years.

This is really a subjective matter to me and it depends on the strategy of the person how he can take advantage of the market.
It is also highly dependent on which coin you will be buying and holding, and selling at your own time.
The suggestion seems easy but it is a complex one when you try to apply it on yourself.
Because there are many considerations that you need to think of before buying a specific coin and hold it.

In this article, Kiyosaki talks about the Bitcoin market, nothing else.  So I think his concept of making money by buying the dip during crashes makes sense.  Though his entry points are kinda very low, but still, ignoring his Bitcoin market entry point,  the idea is pretty much solid.