I had no idea the crypto market was in green this morning. Some sort of recovery luring false hopes of vast riches. The only way I knew was the posts I was reading, hoping for a breakout. It was too early to tell if it was genuine though. We know what happened next as it plummeted faster than it rose.
I find it quite funny as the markets have been heavily manipulated over the last few months. These manipulations are going to be a common occurrence until the likes of Fidelity and Bakkt are ready to trade and have the green light.
I truly believe we are on hold and they control the front end of the market. Why would they allow Bitcoin to rise making it more expensive for their clients to buy in. This makes much more sense to me and I am sure they have a fund in place with some key brokers making this happen.
Once they are on board and ready to invest then it will rise, but not before. It wouldn't take much money either to buy and sell controlling the front end with the resources they have at hand. This is going to be worth billions to them so what they are spending now is pocket change.
I just see it as an opportunity to grow in the meantime and look at it as though the manipulations are doing you a favor. Maybe we haven't hit the bottom yet and the markets could be forced a little lower. I think the closer it gets to the green light the more pressure will be put on sellers and only then will the market be flooded with their new money. This makes more sense to me and are my thoughts. I may be totally wrong as these are interesting times and anything is possible. This is new territory now and all previous history seems to have been thrown out the window.
Image source blooloop.com
