Crashes are The Best Times to Get Rich - Robert Kiyosaki

[YinShuiSiYuan]

actually no one knows until what price bitcoin will drop, but indeed many predictions have come out of various people, for me personally now is a golden moment to buy and set aside capital in the event of a crash again, so that we have the opportunity to get the best price to buy, and it's easier to make a profit. Many people spend their capital in one price, so sure, but reality says otherwise, so they are frustrated because it floats.

Bitcoin was trading on 18k$ yesterday or day before yesterday, right now it's on 20k$. You are right we have no idea what's the bottom at which to buy. My opinion is that we have to decide a target value and start buying slowly when that price is reached, never buy all crypto at one single price. Even current price of 20k is a safe bet to buy bitcoin.

[crytolad]

People don't want to take the risk of buying when the market is red, and I think this is the difference between successful and unsuccessful people, successful people make the red market as it is today to invest more, but failed people will panic and sell assets in a panic and lose.

Well, successful people know when to invest.  They don't just invest because the market is red, they invest because they see the potential of huge profit on the asset they are looking to invest.  Investing blindly just because the market is red will incur more losses than profit.  Remember LUNA crash?   If you invest during its crash to $1, you are in big trouble by now.  Even with an enticing market price, we should do our deep research towards that investment so that we may avoid loss of funds in the future.

Your point is well noted mate. But the case of LUNA is completely different as this is the first time something like this has ever happened. I think there's no better time to buy stablecoin like Bitcoin, Ethereum etc. than when the market is bleeding because it would bounce back.

[so98nn]

This does not need to come from popular marketing guy or rich person really, this thought is way logical and everyone should understand the benefits of buying in the bearish market like this. It’s simple logic, things are discounted and cheaper than ever before, it’s not out dated and has confirmed value in the future so it’s not big deal really. Just buy it. All we have to do is wait for some specific duration ahead and the result of this would be profits.  The longer you wait the higher the profits.

[RussianEnglishTranslation]

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 agree but you have to have money to make money. I have been putting a portion of each one of my paychecks into BTC and ICP. I think that those are the safest bets right now and they are extremely oversold.

[Pomogator]

Yes, I really agree with him. Last time bitcoin hit the lows at $4,000 a couple of years ago, I was sure that this was a complete collapse of bitcoin. After such growth and the second mining boom, I also adhere to the position that I need to buy, so I wait for the rate of $14-15k and buy.

[Spack17]

This seems like the best time to buy bitcoin yeah. There was a big accident when it fell from $60k to these values. However, this is not an accident, it is a great opportunity for all of us. One of the lowest values ​​before reaching $100,000. All we have to do now is buy bitcoin and wait. A few years from now, we will have easily made a profit.

[philipma1957]

Yes, I really agree with him. Last time bitcoin hit the lows at $4,000 a couple of years ago, I was sure that this was a complete collapse of bitcoin. After such growth and the second mining boom, I also adhere to the position that I need to buy, so I wait for the rate of $14-15k and buy.

So you turn down a 70% discount

21/69 = about 30%

I purchased at

19.9
18.9
17.9

tomorrow I will buy a piece

[Captain Corporate]

It is reasonable to want to buy at 15k, there is nothing wrong with that, but to not buy at the current prices would be a mistake as well. Just like phillipma says, you should buy at those levels, and you should also buy at 15k when or if that happens too. I have been buying bitcoin for many years, automatically, each month when I get my salary. I would buy bitcoin today if it is 5k, I would buy it if it is 65k, and I would buy it anything in between. In my mind, it is clear that the best thing we could do with crypto would be to just buy it, buy as much as you can, why? Because I am %100 certain that it will reach insane prices, hundreds of thousands of dollars, and before I die (unless I die very young) I will see a million dollars per bitcoin. This is why I am buying bitcoin at any price we can see these days.

[edgycorner]

When cryptos(& stocks) are dropping and fear is rampant, there are often great opportunities for those who are able to see beyond the gloom and doom.
Obviously, no one knows for sure when the best time to get rich would be, but crashes could present such opportunities. Simply because asset prices are often reduced to a level that is much more affordable. This is could be an opportunity to purchase high-quality assets at a discount   It does come with added risk tho

Some people prefer to invest during times of stability and growth whilst some are risk-takers. Robert sure seems to be the latter one.

[MiF]

When cryptos(& stocks) are dropping and fear is rampant, there are often great opportunities for those who are able to see beyond the gloom and doom.
Obviously, no one knows for sure when the best time to get rich would be, but crashes could present such opportunities. Simply because asset prices are often reduced to a level that is much more affordable. This is could be an opportunity to purchase high-quality assets at a discount   It does come with added risk tho

Some people prefer to invest during times of stability and growth whilst some are risk-takers. Robert sure seems to be the latter one.

I agree on that in crypto there are a lot of strategy to become rich and i am sure that one of this strategy is buying when market is on dip season. There are people that always wait for the bear market and grab the opportunity of buying crypto in a very low price , there are also investors that only invest when the market is slowly recovering but i believe that the best strategy is to take risk of buying on dip because there is a big possibility that you can earn big on buying at dip than buying when market starts to recover.

[Joshapat]

If people want to think smart, then the theory of buying cheap and selling high prices must be applied, when compared to ATH, of course the price of bitcoin is currently dropping more than 65% so that the first theory of buying cheap has been fulfilled, and the next thing is to wait for the moment when the price is expensive so that can sell with profit.

[lienfaye]

If people want to think smart, then the theory of buying cheap and selling high prices must be applied, when compared to ATH, of course the price of bitcoin is currently dropping more than 65% so that the first theory of buying cheap has been fulfilled, and the next thing is to wait for the moment when the price is expensive so that can sell with profit.

Thats true. The best time to fill our bags are during market crash, however weak investors are hesitating to buy because of their worries that it might drop further and they will loss their capital. Hence some investors prefer to buy when the market is starting to recover and I think its understandable.

But the current price is quite cheap and its a chance to take advantage. If you know the history of Bitcoin then you'll understand that situation like this is just temporary and its a good opportunity for investors to engage themselves.

[bakasabo]

This Robert Kiyosaki statement works only for those who has money pillow. Those who live from salary to salary, wont support his statement. I am not very familiar with his creation, but does he teaches how to earn during crashes with current salary or how to save during a crash to turn this amount in future into investment? From my point of view, his statement is another interpretation of buy low sell high, and I see nothing new in it.

[serjent05]

This Robert Kiyosaki statement works only for those who has money pillow. Those who live from salary to salary, wont support his statement. I am not very familiar with his creation, but does he teaches how to earn during crashes with current salary or how to save during a crash to turn this amount in future into investment? From my point of view, his statement is another interpretation of buy low sell high, and I see nothing new in it.

Well, it is obvious that buy low and sell high is nothing new but many investors are afraid of entering the market during a bear market.  I think his statement is to encourage people to invest in Bitcoin while the price is crashing and that is something that differentiates it from the typical buy low sell high strategy.

[bakasabo]

This Robert Kiyosaki statement works only for those who has money pillow. Those who live from salary to salary, wont support his statement. I am not very familiar with his creation, but does he teaches how to earn during crashes with current salary or how to save during a crash to turn this amount in future into investment? From my point of view, his statement is another interpretation of buy low sell high, and I see nothing new in it.

Well, it is obvious that buy low and sell high is nothing new but many investors are afraid of entering the market during a bear market.  I think his statement is to encourage people to invest in Bitcoin while the price is crashing and that is something that differentiates it from the typical buy low sell high strategy.

So there is the trick. As far as I know, Robert Kiyosaki on first place is a writer, and a businessman or investor on second. His article on Wikipedia says that most of businesses that he has started went bankrupt. So for me he is more motivator than a man with real experience. He just pushes people to make an action, but he is not responsible for results. From his point books, the person will either get money, or lose them but gain experience. I can play this 50/50 roulette by myself, without his advices.

[Anonylz]

If as an investor you can't see the benefits of periods like this except only the negative then you are better off investing on something more stable like gold or real estate. Otherwise what is the point of trying so hard to convince people to dca in bear season if they don't believe a bull season will come around again. Anybody who don't feel comfortable buying now can probably wait till next bull market to buy.

[Oilacris]

This Robert Kiyosaki statement works only for those who has money pillow. Those who live from salary to salary, wont support his statement. I am not very familiar with his creation, but does he teaches how to earn during crashes with current salary or how to save during a crash to turn this amount in future into investment? From my point of view, his statement is another interpretation of buy low sell high, and I see nothing new in it.

Well, it is obvious that buy low and sell high is nothing new but many investors are afraid of entering the market during a bear market.  I think his statement is to encourage people to invest in Bitcoin while the price is crashing and that is something that differentiates it from the typical buy low sell high strategy.

So there is the trick. As far as I know, Robert Kiyosaki on first place is a writer, and a businessman or investor on second. His article on Wikipedia says that most of businesses that he has started went bankrupt. So for me he is more motivator than a man with real experience. He just pushes people to make an action, but he is not responsible for results. From his point books, the person will either get money, or lose them but gain experience. I can play this 50/50 roulette by myself, without his advices.

I wasnt aware on his history or past things that had been done but since you had mentioned about his business gone bankrupt then it turns out that his advises in terms of investment wont really be that much a suggestable thing for you to follow.

It is really just a common sense that every dip on particular market conditions would be opportunity to buy cheap and make yourself position and even with newbie investors would able
to mind off those probabilities which doesnt really need for you to be that popular or someone who's known.

Getting rich would be totally depending on what are the things that you are risking and having that intuition on making rightful decisions but of course
nothing is assured.

[fullhdpixel]

If as an investor you can't see the benefits of periods like this except only the negative then you are better off investing on something more stable like gold or real estate. Otherwise what is the point of trying so hard to convince people to dca in bear season if they don't believe a bull season will come around again. Anybody who don't feel comfortable buying now can probably wait till next bull market to buy.

They cant be called investor if that is what they act but a real investor will know what is the best time to invest and a bear market is one of it. If you only convince one person then you have a less chance that the person will believe on you but if you are convincing more people or you do it online then there's always people that will believe on what you are saying so you shouldn't get discouraged of doing that as that can help crypto to become more mainstream.

There are actually people that aren't comfortable to buy at lows but they are more confident to buy when highs, it's only risky though but they can still be lucky and earn through this.

[Joshapat]

If people want to think smart, then the theory of buying cheap and selling high prices must be applied, when compared to ATH, of course the price of bitcoin is currently dropping more than 65% so that the first theory of buying cheap has been fulfilled, and the next thing is to wait for the moment when the price is expensive so that can sell with profit.

Thats true. The best time to fill our bags are during market crash, however weak investors are hesitating to buy because of their worries that it might drop further and they will loss their capital. Hence some investors prefer to buy when the market is starting to recover and I think its understandable.

But the current price is quite cheap and its a chance to take advantage. If you know the history of Bitcoin then you'll understand that situation like this is just temporary and its a good opportunity for investors to engage themselves.

Today the market drop is more than 5%, it's time to fill the wallet at a low price, I prepare around $ 200 to buy bitcoin at $ 19k or $ 50 will be filled soon, the classic theory is to buy cheaply we can apply if you buy it immediately, I'm optimistic Tomorrow or the day after tomorrow the price will return to $ 20K and if sold then profit 5% in a day.

[Japinat]

That's proven and tested for Bitcoin. Once you purchase during the crash, you'd be lucky sitting there waiting for your retirement plan or lambo lol. However, finding or waiting for the bottom dip might be a little harder than what everybody thinks. It's not guaranteed and you might miss the buying opportunity when you do nothing during the crash because you're waiting for the absolute bottom.

No one gets to know if its the bottom price or not, so probably he'll miss another chance again if he always wait for that. But if one does DCA while  waiting for the absolute bottom, then he will continue taking the advantage while the market continues to crash. However, not all the people here gets excited when there is a market crash, newbies easily lose their focus and resort into wrong decision making that could end their crypto investments.