2018 is an awful year for the cryptocurrency market. Hitting a peak around January 3rd, things tanked since then. Many tokens witnessed a 50%+ pullback. We are seeing prices back where they were before the run up at the end of 2017.
Such is the nature of markets. It is the ebb and flow. Markets are their own entities which move at whim.
Well not exactly.
The cryptocurrency market is not moving at whim. It is the victim of an orchestrated attack by the bankers. This was designed, intentional, and well thought out.
Some people seem to think that cryptocurrency is no threat to the banks. If that was true, do you think you would see all these attacks levied against Bitcoin? Do you see Netflix being destroyed by the mainstream media? The answer is no and the reason is because Netflix poses no threat to the bankers.
It is vital we understand how things work.
I have a buddy who makes his living off trading stocks. He uses his own money and pays his bills based upon the profits he generates. For this reason, he is a watcher of channels such as CNBC and visits sites like Marketwatch.
Yesterday I was talking to him and mentioned cryptocurrency. Even though he did not use this term, he brought up the FUD. Basically, after all these years of watching these channels, he understands how the message is manipulated. When the guests are consistently out there degrading something, it is a staged attack. He noticed that the entire message around Bitcoin and cryptocurrency is negative.
Here is someone who does not follow cryptocurrency yet follows Wall Street. To me, this shows the cryptocurrency FUD is real. This individual doesn't have skin in the game. It is an observation from a fairly astute person.
Wall Street is an interconnected web of players. Through this cross ownership, we see the bankers own the media. This is something that is literal.
Taking a look at the major holders of the media companies reveals the truth.
News Corp.
Fox
Disney
Time Warner
Notice any similarities?
Many of the same companies show up. Blackrock, Vanguard, Morgan Stanley, and State Street. They are the largest holders in four of the major media companies.
The situation only gets worse when you follow the path to find out who biggest holders are in those companies holding these institutions.
It does not matter if you believe in conspiracies or that there is a select few who seek to keep humanity enslaved. What does matter is that there are a small group of people who control the largest corporations, including the media. These people are not your tech titans or real estate moguls. They are bankers from Wall Street.
At the core of it all is the bankers.
Therefore, it is easy to see how they orchestrated an attack on Bitcoin (and cryptocurrencies). The assault is relentless. When a non-investor is noticing the negativity launched at a particular asset class, you know it is bad. We are witnessing a planned FUD meant to turn people away.
Which means that anyone who understands this is in the best position in the world.
Cryptocurrency and blockchain are going to crush the bankers. This action proves it. There is no way to defend against the Internet coming to your industry. When it does, the fallout is great. Just ask the newspapers, magazines, record companies, and video cassette rental places how that worked out. While we are at it, perhaps we could look at how AT&T's long distance division is doing. All these were obliterated by the Internet.
The bankers are on the path towards the same fate. That is why there reaction is so violent. Perhaps your friends will say that cryptocurrency is not real yet the bankers know it is. They are doing all they can to control.
So congratulations!!! If you have some cryptocurrency, you are destined for massive wealth. We are going to see a huge run over the next few years in this market. The FUD will only last so long. Like the record companies suing their own customers, the tactics used are futile.
This is why the idea that we are seeing a bubble is absurd. The bankers launched an major offensive against cryptocurrencies in an effort to make them unattractive to people. There is a lot of fear instilled in the average person about this. However, when we look at the development that is taking place, it is growing. Therefore, while the media is going to beat the same drum, we are going to see, over time, radical advancements in this technology.
While the mainstream media is busy blasting Bitcoin as a headline, companies and developers around the world are making major moves which are pushing cryptocurrency closer to mainstream adoption. It is going to take a while yet the process is started. There are deals announced on a regular basis, ones that get into hundreds of millions of dollars, in the crypto space.
This is not a passing fad. Bitcoin first appeared on the scene 9 years ago. This is not an industry that was started in the last year or two. Since that time, many different blockchains were created, some improving upon what Satoshi laid out a decade ago (Bitshares and STEEM being the main ones). We are awaiting the introduction of EOS which is anticipated, by many, to be a technology that creates interoperability within the space while improving what already exists.
Some say that cryptocurrency 2018 is akin to the Internet circa 1993. That analogy might be true. It took the Internet 6 or 7 years to get mainstream adoption from that point. While that is not a long time to wait, I believe it will be quicker in this realm. Technology advances at a greater pace 25 years later. The next 2-3 years will see major penetration done by blockchain/cryptocurrency.
So embrace the FUD and take solace in it. If this were not real, the bankers would simply ignore it.
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