Topic: Assault of Wall Street against crypto, fault put on the Chinese. Opinion. (Read 207 times)

I believe Wall Street did nothing wrong in the crypto world, what did they do that I am not aware of? I mean they bought bitcoin in billions of dollars for the whole past year and we are talking about the cause of it being wall street? At the end of the day, if they sold some and got out that means they did what we all want to do, we want to get into bitcoin and make a lot of money and get out as well right? That's all we want too, I would love to be rich and get out and not own a single bitcoin but have a billion dollars for example, I would probably keep most of my money in bitcoin if I have that kind of money but I wouldn't mind doing that, if you are not capable of selling then what's the point?

However I do not see them doing anything wrong. China on the other hand love crypto and blockchain but keep banning bitcoin because they hate everything they can't control, that's what dictatorship does and they want to be dictator of crypto as well.

Nailed it. Elon also said Tesla would stop taking Bitcoin. The SNL skit where he said DOGE/crypto, "it's a hustle!" was no coincidence. A multi-billion dollar network with powerful backers and 10s of millions of people influenced.

My belief is he is the chosen one to help lead the sheep in the direction that the elites want. Tesla is another vehicle for this. He gets kickbacks from governments to support this initiative. They are getting rich off the weak.

Why should we even dignify this FUD? At the end of the day, it all boils down to numbers; they don't lie. If we let the numbers speak for themselves, saying that crypto is just good at losing money is one absolute stupidity.

Exactly a year ago, the price of Bitcoin was only around $8,000. Today, it is $39,000. Not to mention that it is already the correction price, that it has already reached almost $65,000 around a month ago. Can anybody in Wall Street offer this level of ROI?

If you bought during the ATH and sold today, then it is not about whether Bitcoin is better than Wall Street or vice versa; it is about you taking foolish actions.

Let us not talk about the USD being the best currency. There is no point arguing against it.

Politics and economics do not just go hand in hand, but are interconnected and one flows smoothly from the other. I think that banning cryptocurrencies is a counterproductive idea and any state will eventually come to this idea. Another question is how much states agree to let cryptocurrencies into their economy, here there can already be many nuances and in different states this can be implemented in different ways. As for the point of no return, I agree on the one hand and disagree on the other - yet cryptocurrencies have not yet entered the daily life of every person to say such things for sure.

That is exactly what is happening with the crypto market and all markets. It is the psychology of investors that is the biggest flaw for big boys to take advantage of to manipulate the market. People believe in FUD and believe in chart pattern breakout to sell down. Many people have made good money selling short in each FUD.

Ah, political games again. It's not uncommon that politics and economy go hand in hand. But that's why I like crypto. They can disrupt it as much as they want, but crypto has gone to the point of no return and I doubt it can be completely discarded, even with political help. Maybe it will go slightly underground, but give it another cycle and we will be back in the saddle, if not a step further than now.

I agree because at the end of the day we are talking about China here, they are always like that and there is at least one "banned" news from there once a month, I do not know which one is correct and which one is not because whenever I checked they ban it somehow.

I mean by the looks of it they should have been banned already so how did they ban it once again for something that is banned already? This is why I am not sure what is going on. I believe it wasn't Elon, it wasn't wall street, it wasn't china.

People are trying to put the blame on something but the reality is that people sold and if people sell that means the price will drop and that's it, some people sold and the price went down and that is the only reason there is no other reason. If people do not get this and look for a problem and a reason they are not going to find the right answer.

I wouldn't say that the fault is put on the Chinese, china is doing this to itself and they are definitely the problem here, but that doesn't mean that wall street is not guilty neither, if there was a huge amount of money sold from wall street and ruined bitcoin that is a part but we all know that between miners and the bans and everything else China definitely hold some responsibility for the fall, even Elon has a fault, and many other reasons too.

Trying to claim innocence for one place by showing how the other place is guilty will never work in crypto, the people in the crypto world are a lot more smarter than your regular average joe, so if you just say "china is innocent because wall street is guilty" they will not buy it, we all know that china is guilty, wall street is guilty, Elon is guilty, hell even Europe is guilty for not properly supporting it during this period with needed laws for the past 1 year.

This is not true because China is a country that bans Bitcoin regularly and historically they banned Bitcoin in 2013, 2017 and 2021. After each announcement, the value of Bitcoin plummeted, then helped Bitcoin hit ATH on the previous two occasions. I believe this time Bitcoin will soon hit $100k and beyond.
I am not concerned about FUD by the Chinese government but it is Elon Musk who upsets the market by constantly posting tweets about crypto to mess up the market. I will see how long his DOGE coin can hold up this time.

"Oh good, a post from zerohedge- a blog where all the authors post anonymously because they're so credible." -Nobody ever

Zerohedge is a dumpster fire of a website that peddles conspiracy theories. Nobody should post anything from zerohedge and be expected to be taken seriously.

Dang, You are on the similar page as me but I do think that some whale from China specifically are coordinating together to make something happens. There are even rumours of the recent flash crash was created by them


Some people bought on tops and are losing around 50%. Some people are not into a long term hold


Apparently some people do care about this. You might have heard it several times already but some people just get into crypto recently especially because of this bull run otherwise there probably wont be that much new adopter

Wall Street is indeed a rip off, all their employee are trained to treat their client like a livestock, where they can sell your telemetry data for cash. I’m not surprise they would dismiss their criminal until they’re out of the wood.

Even if I connect the dots and think of it as a global conspiracy against all of us. The only solution I can think of is like HODL? That's all. One of your theory which suggests banks want to see Crypto investors in red then why didn't banks waited for enough crypto customers to get onboard before they made a crash? As far as I can remember they started giving this option only after we were quite below from 64k. And I don't think a lot of investors would have joinedd in this short time. Moreover even a child could tell that it's not China who is influencing this definitely. China has banned bitcoin for like 100th time so people don't  care about them also in the past I have seen a lot of pumps coming after China ban why was it different this time?

Is this entirely Elon Musk doing?
On the other hand, China also reports bad news that a ban occurs in its country, the same thing that once appeared in China and after a long period of time bitcoin has risen again, will this happen in a few years?

On the other hand, Elon Musk also slammed bitcoin with all its kinds to destroy the existing market after his controversial tweet became a lot of attention by other investors and this was greatly influenced and he affected the market too.

So awry will bitcoin survive?

Let me try and explain what I think is going on here.

1. Elon musk tweeted how Bitcoins is not green , blah blah blah and he proceeded to sell all his Bitcoins

2. Today he tweeted like how the future depends on lightning network.

3. He tweeted about how cryptos are a probelm etc etc in the past against fiat

4. Now he keeps saying how he prefers the cryptos over fiat.


-------


Use your neurons.
What he wants is the bring the market down ⬇️
After the market is crashing.
He intends to buy a lot of Bitcoins!!! Which then he would sell again in the future and thus he will make millions !!!!


°°°°°

Thats now all !
It's all a conspiracy.
All these big people, they actually are connected one way or the other and they keep in check with everyone in their community. Therefore if one whales tries to bring it down , the other ones are well aware and they support it! So they can all make money.

°°°°°

With tweets he just tries to influence the weak minded people and as it turns out there are many out there.

Your defence of China in this scenario is utterly nonsensical and hilarious in my opinion. Almost every crypto investor these days are aware of the fact that the Chinese government fear cryptocurrencies and demonize them whenever possible.

If someone is blaming them for the current bloodbath, they are 100% right. Musk is another factor responsible for this bloodbath currently. These are facts.

https://twitter.com/zerohedge/status/1395745248408707079

....


Remember when china apologized for crashing bitcoin off miner hash rate decline. They claimed industrial crypto mining in china shut down due to coal power outtages. As if no one today owns or uses a back up generator. Bitcoin's value plummeted. China apologized for crashing crypto for the 1st time ever. China didn't want investors, hedge funds and the wealthy being mad at them for crashing bitcoin.

That happened before Elon Musk's tweet.

There were unprecedented events in china crashing bitcoin before and after Elon Musk's social media postings.

Which some might find odd.

Actually it is not that complicated, the recent market conditions are the side effects of the bubble that has occurred in the past 1.5 years.  If you pull it back, the Crypto market cap has reached 2.45 T USD.  Naturally, there is a recovery in a market that has already set record highs.  Just as the owner of ETH said that crypto is currently experiencing a bubble and it is only natural that there is a price correction.  Even his fortunes fell after ETH went into freefall.

I don't think this is right. Maybe the banks are playing their part in all of this, but the biggest blame I would givet to Elon Musk and China, both of these two large players started to bash on crypto currencies. While I disagree with both China and Elon Musk on their stand on crypto currencies, I understand where they are coming from. But in the end cryptos will prevail, we shouldn't worry too much. The crypto markets tend to moves in cycles, right now we are in a bear cycle which came very suddenly. It might take some time for the prices to recover but we will see another bull market eventualls. Let's not lose hope.

These conspiracy posts are dumb. There was no signal, there is no puppet. The market is made up of millions of different people all looking out for their own best interest. To believe that crypto is dropping because of some complicated conspiracy theory and not because crypto traders are mostly momentum traders and followers is beyond deranged.

Knowing how there are conspiracies unearthed that are close to this, I wouldn't be surprised that it is true or it will be true but for now, we can only theorize and speculate.

If it would have been coordinated plan then BTC would have been zero and alts would have been in negative.
Government would have asked banks to swipe off all the money from crypto investors, but they can't do that.

Know why? Because the givernment itself know the benefits of crypto space. They are already getting big portion of taxes from the crypto income made by the millionaires.

Lets not argue that its anonymous and millionaires or billionaires don't tell their crypto income, because one word for this - Elon Musk - The billion Dollar SpaceX mission!

Tell me why would Elon's banker refuse to get payment from him if it's from crypto and nice and long lasting?

Think about the big picture here mate!

And that helps spread the FUD. That helps market operators to achieve their goals. If no one would give a f* about fake FUD it would be much harder for them.
Now no one is looking on the chart. Everyone is talking about how much they hate Musk, how much they hate China government. People are wasting time trying to find out a reason for such dump in media. In articles that was paid to appear. Or are made in a way to bring attenction (click-baits) People are frustrated and scared. People are making wrong financial decision based on emotions they are facing.

Just go through this logic with me:

1- We just had second bloodiest day in crypto in last 6 years. No1 is covid panic sell.
2- During Covid panic sell SP500 was crashing, all stock markets were crashing (Europe, Asia), gold was crashing, silver was crashing, oil futures had negative price first time in history, unemployment claims have broken the ceiling. Bitcoin did -55% in 10 days.
3- during "Elon said game" BTC dumped 49% in 10 days. global environment was healthy. SP500 was ok. There was no global FUD, no panic outside of crypto
4- during "Elon said game" Elon said obvious things that every investor know about (I'm 100% sure that he knew about it too in the moment of making financial decision few months ago). China is banning crypto for 10th time? It does not matter too.
5- now answer my question. Was BTC strong at 60k but it was attacked by enormous powers of influence that smash it down ruining its fundamentials that price was build on or maybe BTC was super weak at 60k that even a butterfly's wing would knock him over (tweets with obvious things)? I guess that second part is correct. BTC was super weak at 60k, had no support and was shorted by whales which bought FUD in mass media after that.

Now you should answer a question. Is BTC stronger here? Did it found support? You should definitely not try to do financial decision based on investigation of FUD articles. Create a story based on them, spread them out because they are all just paid FUD to justify -50% dump out of nowhere.

We will see more articles, more FUD. But you should not read them and try to figure out how they connect with each other. You should observe how market reacts on them. No matter if they are true of fake news. If market dump after fake news - price is too high and will go down, beacuse its too weak. If price will not react on bad news - dumpers are out, time to go up.

Why the hate and aggressivity, lot of people believe the narrative in the press. It is good to have another bell and try to understand what is happening behind the curtain. Bring your analysis, be constructive.

The world keeps producing FUDs so as to destroy weak hands. Back in 2017-2018, China also had the same regulation on bitcoin, cryptocurrency, and crypto mining which create huge FUDs and sell-off. In this financial game, there are winners and losers, you can not expect everyone to earn in with cryptocurrency. The money needs to flow from ones' pocket to others. right? If not, how can you able to make money? It is an intrinsic element of investing.

Personally, the current big sell-off has not] harm to me. I have already made a 50% withdrawal to cash (sorry cryptocurrency) so that I can wait for this big dump. Currently, 20% of my portfolio is on cash, which is equivalent to my initial investment so that means I lose nothing. The fact is that cryptocurrency can't increase forever in a short time, there must be a reversal, and whoever sees it first, will be the first one to secure the balance. Be safe my friend. This game is not for novice anymore. Institutional investors, sharks, and big firms have already shared their piece of cake. Without being cautious, losing is the only posibility

So what? You solved it. Congratulation ... will it give back your money you already lost on 50% market crash? NO. Does it help in predicting future price moves? NO. So you just wasted your time.

Do market operators (AKA market manipulators) use mass media to help with position that they have opened? For sure. Do they open their position randomly and then force market to do what they want or maybe they analyse chart, environment to see that BTC has no support below 50k, that pumped too hard too fast, that market is full of newbies, full of tik-tokers and shorting BTC is the most profitable scenario at 60k range? So they shorted BTC and than started to FUD? So all you had to do was to analyse chart and emotions on market to know that they will dump and send FUD. Not analysing what FUD news they used post factum. Creating such stories has 0 value for your wallet.

So they use musk for fud... ok .. possible. They use china ban crypto fud... for sure. They did not dump crypto to destroy Chinese government crypto... XD ... thats hilarious.

"Suddenly Wall Street can accuse China of the fall of crypto." This is even more stupid. What for? Crypto dumped because it has no value - thats the WS whales narrative.

You cannot connect the dots? You think that these people are not coordinating to make billions? Then you are living in a fairy tale. About money, things are not happening randomnly.



I am not a stupid fake news writer. I am an analyst.

Wear this hat. This should protect your brain cells from bad people attempting to influence yours behaviour using 5G... I'm sure all this bad people will try to stop you from telling everyone true.

A lot of hypotheses collected in 1 threads and none of them has anything to do but guesswork. Most of them are simply stupid because of lack of ability to compare a scale of events. You see an apple lying in the middle of the street and you assume there must be an apple tree nearby. You do not take into account that an apple tree in the middle of the street would be absurd, that it is more likely that this apple just fell out of someone's bag. But knowing the fact that there must be an apple tree in the middle of the street you assume that the governments of the world have deliberately planted it right in the middle of the street to reduce the number of internal combustion cars that will most likely crash on the apple tree. Next thing is ... buying insurance against a collision with an apple tree growing in the middle of the road?

Just stop this nonsense. Take a look at market, at your portfolio, at market, at portfolio and try to figure out what should be your next move to either earn from this dump caused by unjustified cause or safe whats left in it.

In 1 month everyone has lost 50% of their value in crypto.
The banks had just offered crypto portfolios to their investors.
Everything was perfectly coordinated.

The message is as follows.
"WALL Street is the best investment. USD $$$ is the best currency. Crypto is just good at losing your money."
"Practically, the USD raised 50% against crypto, everyone should have sold."

This is all an attack on the crypto by the institutions and by the American FED.

The signal for the attack was given by their puppet Elon Musk, and the banks looted the portfolios they had just created, teaching their investors a lesson.

Because the digital Yuan, the official Chinese crypto currency was just introduced on May 12, this kills 2 birds with one stone and flops the Chinese government crypto.

These fools saw nothing coming from the Machiavellian plan. They pushed their crypto by banning Bitcoin mining! How stupid.

Suddenly Wall Street can accuse China of the fall of crypto.

But in reality it is indeed the US and European capitals investors which has suddenly withdrawn 1 Trillion off the value of the crypto.

The global financial system continues its hegemony and continues to manipulate people to make profit.

Just be aware of what is happening. The financial system is not better than ever, lot of conflicts and wars leaded by Europe and US, and inflation is coming big time!
The banks were in the red, they raided their own investors crypto portfolio and refilled with some cash.



Original article is here: https://nicolas-choukroun.medium.com/assault-of-wall-street-against-crypto-fault-put-on-the-chinese-ec6e71a1f811