Prominent Investor Highlights Rules of Managing Crashes As Crypto Assets Decline

A prominent entrepreneur and investor, Robert Kiyosaki, said a crypto crash has begun and will be severe. While noting that crashes are the best time to get rich, Kiyosaki advised investors not to get greedy. He outlined some tips that will help investors avoid massive losses and maximize the buying opportunity.

Kiyosaki Says the Crash is Here, Offers Guiding Rules 

In his recent post, pro-Bitcoin entrepreneur Robert Kiyosaki called attention to the ongoing crypto market downturn. He says this is just the start, and things might worsen. 

The entrepreneur noted that such a phase has impending negative effects on the crypto industry.

Notably, the crypto market saw significant losses over the past few days. With high volatility, Bitcoin lost its anchor in the $60,000 threshold, dropping to $57,000 as of April 30, a multi-month low. Other assets followed suit, recording significant declines, with the broader market cap losing over $200 billion in a day.

Amid the downturn, Kiyosaki offers the following rules for investors during the crypto crash.

• Don’t catch Falling Knives – Kiyosaki cautioned against getting over greedy with rice falls during a crash. Though you can make gains by buying at low prices, it’s best to wait until the prices have bottomed.
• Study – Constant research is the best way to learn more about crypto market trends. The entrepreneur encourages investors to use platforms like YouTube to learn.
• New Friends—The writer further noted that having people with crypto knowledge on your side will help you navigate a crash phase.
• Start a Side Hustle—The entrepreneur highlighted the growing use of AI, which is taking over many jobs. The best approach is to launch a business, no matter how small. Also, this makes you an entrepreneur, not an employee who fears losing a job.
• Don’t Save Money—According to Kiyosaki, fiat currencies like USD, Euro, and others are fake money as their values plummet with time. He recommended investing in gold, silver, Bitcoin, and assets whose values appreciate. According to Kiyosaki, market crashes are the best time to invest.

Current Overview of the Crypto Market

The crypto market seems to be rebounding from the past week’s losses. According to CoinMarketCap data, the cumulative crypto market cap surged nearly 3% over the past day to hit $2.28 trillion.

Bitcoin is gradually climbing the ladder with increasing bull pressure. Though BTC gained slightly within the past day, it has not yet reached the $60K mark.

Bitcoin’s dominance over the altcoins has hit 53.1%. However, BTC trading volume sits at $31.55 billion, with a 23.4% decline in the past 24 hours. 

Altcoins have trailed behind Bitcoin in the recovery. Ethereum is also up, with price hovering around $3,056, indicating a 2% increase over the past day. Toncoin (TON) trades at $5.47 with a 9.6% increase, while Bitcoin Cash (BCH) reclaimed by 4.11% to hit $447.70.

Other top altcoins are also in green following moderate gains over the past day. BNB, Dogecoin (DOGE), Polkadot (DOT), and Polygon (MATIC) recorded 1.64%, 2.88%, 2.44%, and 1.64%, respectively.