Manipulation Through FUD Continues
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Social media like twitter is a perfect platform to use for FUD as the majority of the population is reading and believing whatever is said.
Sadly the majority of the people in the world cannot think for themselves and fall for the devious tricks the institutions use to gain an advantage. When Bitcoin first arrived on the scene it was a scam and it's only use was for drug lords or the underworld to move money around. That all changed when 3 years ago Bitcoin hit an all time high with everyone including granny buying it. That was more FOMO when granny got involved however lol and many got seriously burned by what happened next. I know of friends who took out second mortgages on their properties buying Bitcoin and had to downsize afterwards.
Next was the huge crash and the next 3 years saw it plummet down to the lows of $3K with many institutions hopping on board. The list below is just some of them that was disclosed in June last year. This was just the start and we now know a hell of a lot more bought and are still buying. It was Fidelity who reported that in June last year 1/3rd of institutions own Bitcoin.
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Last year was a purple patch as very little FUD was seen as Bitcoin was all of a sudden something ground breaking and useful. The all time high was achieved a few months ago and again the brakes were applied. We saw the idiot Musk and his many tweets throw more FUD with many fools selling off whatever they had playing back into the institutions hands yet again. Tonight looking for more FUD it was easy to find as it is everywhere and tells me this is a planned attack to loosen more hands of the Bitcoin holders and nothing else. As long as people fall for this type of stupidity the more this will just carry on.
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Obviously this report from JP Morgan isn't true as more and more is being bought up and removed from exchanges. The smart money says hold what you have and just keep getting more as the dips appear. I have seen tweets about the death cross and a possible $20 000 Bitcoin in the coming months which is another opportunity to climb aboard for everyone including the institutions. At some point the FUD has to disappear when the institutions are happy with the bags they hold as the only ones left not falling for their games will have diamond hands. I can still see a $1 Million Bitcoin within the next 5 years as that is where I believe it is heading. When something is seen to have this much value all this effort would not be happening if it wasn't true.
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Sadly many people buy into the FUD and take certain trading decisions which will disrupt the market
It does seem like a preconceived effort to bring it down doesn't it? I don't even dislike Musk for all that is going on. I somewhat feel a phase like this is necessary for growth if we are to have investors coming in with the right mindset. Very soon we won't be as reactionary as they want
They are thinking long term whereas the majority of people buying are thinking of this year or next year.
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Why I have the feeling the market will do exactly the opposite. Funny how these crypto gurus change predictions easier than they do with underwear. I started unfollowing and blocking such crap spreaders.
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Totally agree but who the hell knows if it is a real thing or not. Doesn't bug me and only makes me more curious to what is going to happen next.
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I personally think the FUD is just to intimidate insecure HODLers into panic selling.
Thats A big mistake, if it does go down you get a perfect opportunity to load up some more and when it does hit that million in 5 yrs or whenever
Well it will be so much sweeter for those with diamond hands.