We are all being PLAYED by Wall Street
Everyone, we need to all be aware of this. Wall Street has been trying to keep us in their back pockets, even with Crypto. When making our investment decisions, we need to be aware of these things in the back of our heads before we make impulse decisions.
Wether it's wallstreet or some other party, the truth is that yes people do try to cause markets to crash in order to be able to buy cheaper.
I personally am not sure wall street is to be blamed for entirely. I also suspect there are some really big Bitcoin whales who have been in the game since the beginning, and who have likely been pumping and crashing the market since the start. After witnessing this type of behaviour first hand in much smaller markets, I have no doubt the exact same thing is done with Bitcoin on a larger scale.
The end result is that short term, weak believers are being shaken out, but long term the price will continue to rise as large whales accumulate more. They more they own, the smaller the supply, therefore a higher price. The way to win is to not sell, but instead hold and be patient and let them do their thing :)
The whales are always the ones who profit the most from things like this. Sure the price dropped a lot, but my portfolio already regained most of its value, I am entirely unconcerned with the ban.
totally agree @pandorasbox. I guess my point was that Wall Street investors have found a way to manipulate even the crypto market, which I look at as the millennials stock market. Nonetheless, there are going to whales in any market... But we all should be aware of situations such as the recent Chinese ICO ban and how many times those types of situations are dictated by big corporate investors/politicians who will try to manipulate prices for personal gain
I've read this post 3 times now ! "and thought there something missing !"
And then it hit me what this scam is all about !
The Why Would Anyone Really need an ETF in Cryptos. All you need is a multy currency wallet like Jaxx , exedus, coinpot etc and then stick some money. It aint rocket science !
This is about getting people who know nothing about cryptos to invest in cyptos and charge them a massive fee.
The SCAM is that it gets banned. "FREE Advertising"
Then it gets Reviewed "More FREE Advertising" As so on and on and on.
In the mean time institutions load up on the product, the price spikes, they offload and take profits.
** Easy Money **
Sounds like 'pump and dump'.