Bitcoin & Crypto & NFT News
Hi! I’m not a smart guy, most of you would run laps around me as it pertains to the functionality of crypto. But I do feel confident in my understanding of the nefarious tactics of wallstreet. I no longer work in finance but I have my series 65 amongst other certs. And I own a few companies now and focus mostly on client development and employee satisfaction.
I’m making this post as sort of a flashlight on a small point I want to make. A few years ago wallstreet played coy and said “I guess we’ll take a look at their crypto nonsense and trade futures and maybe basket them into an etf.” They essentially played dumb to how transformative this technology is and while doing so slipped under the radar as they established a system fully capable of manipulating the temporary price of crypto (so that they can profit off of both upward and downward swings that they can control). If you’ve ever found yourself wondering why the daily/weekly/monthly charts of almost every single major coin look similar it’s not that retail (you and me) are buying and selling at identical times it’s that our crypto futures have been bundled into ETF’s. Which are essentially a basket full of a select group of securities (selected by them lol). By creating these etfs large institutions gained the ability to control the price of the assets in the basket. And with a limited supply of each coin it’s not a tall order for these multibillion dollar, for profit, companies to manipulate with the use of machine learning algos.
So without getting too much in the weeds, you’re not seeing a mass sell off (yes some retail are selling obvs but not how it feels). You’re seeing a curated price attack. And this won’t be the last one. And likewise our next bull run won’t be based on positive retail sentiment it will be dictated by them. However the power of crypto comes from the fact that it has the ability to revolutionize our entire planet. And so to that end it will inevitably integrate more and more into society and a higher consolidation price will continue to be achieved. But to get there we must weather the greedy bastardization of price discovery.
Hang in there and ffs gtfo of CB.