Why Some of The World’s Richest People Lie About Bitcoin? -Be Careful With Your Coins.
When you follow the money, not what they are saying, you become wealthy.
Investor Robert Arnott has quoted “In investing, what is comfortable is rarely profitable” which describes well feelings when you enter into Bitcoin market. Risks are big taking you out of your comfort zone, but profits can be great. It’s all about cold showers and high volatility, which will shake off weakest riders in this crazy crypto roller ghoster.
I have been investing and following crypto markets for some time and it became quite soon clear to me how speculative and manipulative markets they actually are. Not to argue that it would differ much from stock markets. Crypto market has been rallying again since the end of the year 2020 and as it has reached new moons several times, it is time to keep your mind sharp these days.
Seeing interviews with big elite names from Bill Gates and Mark Cuban to Kevin O’Leary who have first praised in the name of Bitcoin and then after few years turned their boats completely treating Bitcoin as garbage, is actually really good entertainment. However, they could sharpen their acting skills, if they really want more people to fall into their trap.
Rich people have lied about Bitcoin before and they will lie about it in the future. Isn’t it power and money that makes people to do everything. Now that institutional investors are gradually entering the game and there is not enough bitcoins for everyone, there will be no rules when it comes to winning.
Big influencers are speaking good about Bitcoin, when market is up to create buying pressure and speaking bad about Bitcoin, when it’s lower to create selling pressure. So beware whom you’re following and listening to. Bitcoin whales manipulate markets selling huge amounts of bitcoin at right time together with negative crypto news which leads into panic selling by unconfident investors. Then whales buy Bitcoin back at very cheap price and the show must go on.
Knowledge is power
It is a cruel game making rich richer and poor Bitcoin newbies poorer. If you don’t have enough information about how this game works and you’re either over leveraged or invested too big proportion of your money, you can get scared away easily. Whales are just waiting to eat you alive when Bitcoin is dumping.
This is why everyone should educate before they invest into crypto and regularly follow multiple sources of information to make up their own conclusions about current situation in the market and risk levels they are willing to take. You should always bear in mind that news are highly affected by interests of people behind the scenes. It is sometimes easier said than done to try to make right decisions and keep it cool when a bull or bear run begins.
It is interesting to see, how bloody combats there will be in the future when demand of Bitcoin only increases and supply is declining. I can only imagine what kind of measures lobbies will take in order to try to influence on regulatory side for maintenance of current distribution of wealth. It would be a scary thought to see a world where wealth is more equally distributed. Right?