Market Manipulation6 Feb 2021 08:41
Regarding a few posts last week on the subject of market honesty ( Based purely on supply & Demand and an honest playing field )
Thought I,d pass on this bit from the NEXO Newsletter -
Imagine you’re a massive fund that is just about to announce you’re going to buy $500M in BTC, but your clearance to do so doesn’t come for another month. You might want to, you know, stay quiet about it. Or...you could do what Guggenheim CIO Scott Minerd did and go on TV and give an eye-popping public price target of $400,000.
Now imagine it is a few weeks later and the price of Bitcoin is DOUBLE what it was when you announced you were going to buy a bunch, thanks in part to your own bombastic statements. What do you do now that your money goes half as far? Well, of course, you go back on TV and say everything is overbought and actually the right price is the one before you opened your mouth in the first place.
Okay NOW let’s imagine you helped the price down and have made your big purchase. What do you do now? Oh yeah! Revise that $400,000 price target up to $600,000!
As Fox Moulder said, “Trust No One.”
TRUST NO One in this Shark Pond Amigos
Although I would say if there is one play to look up to its KR1