I believe manipulation of the Cryptos is done in a different way than we are used too. If you were a silver or gold bug you are aware of the manipulation that goes on in that market. The fact that cryptos made it this far, is because I believe the manipulators underestimated the possibility of them. Now they're going try and make up for lost time. I believe they manipulate cryptos in a different way. Instead of using millions of paper contracts at a time like they do with silver.
I believe the biggest weapon the manipulators use is FUD it's cheap and effective. In a way, we fuel this fire by not being accurate in the reporting of whatever story comes out. We often react far too quickly without doing research and that hurts the space in general. I think we must be far more diligent in our reporting of facts so when the fud shows up its a lot easier to cast it out as nonsense. Which in turn makes cryptos have more creditability. I think part of the responsibility of the early adopters is, helping cryptos move forward in both investment and credibility. Cryptos that get the most FUD spread against them are the ones I want the most. Populous(PPT) and Veritaseum(Veri) are my top 2 tokens and they received a large amount of FUD. Which I’m not surprised look at what business space they are trying take over both are in the banking sector. We need to continue to talk about the positive things cryptos do as reminder to people and counter act the negative FUD.
Because the crypto market is in its infancy stage it makes it very easy to influence. John Mcafee and You Tube channels that have large audiences make statements about any Cryptos and you can watch a movement up or down in the market. So, imagine how easy it would be for the manipulators to affect the space. Many have speculated how the Mt Gox Trustee sell off affected the market at 3 different points where it looks liked from a TA perspective was about to make an upturn and instead plummeted. There’s certain places to get well thought out information that is not always positive but is honest and done with integrity. It’s best for all of us to identify and support those people. The more truth tellers and people of integrity speaking out the more truth and honesty we will have in the space and that’s why I got into Cryptos for truth, honesty and finical freedom.
Goldman Sachs recently purchased Poloniex Exchange which is #15 on Coin Market Cap in 24-hour volume currently. I believe this will be the first of many US exchanges that will be owned by the big banks. This is a great way for them to control a big part of cryptos space. As centralized exchanges, they can treat them like the stock market which will expedite the little guy. Right now, we can go and buy $1 or $100,000 worth of cryptos ourselves that would come to an end. They would require us to get licenses which are very difficult to acquire. So now a third party is in control of your money once again. How’s that working out some banks will not allow you to use your own money to buy cryptos. I think using decentralized exchanges is the only way to combat this issue. Hopefully in the near future there will plenty to choose from that maybe the only way the little guy can buy cryptos in the future if you’re an American.
Regulation is a big part of the manipulation take Veritaseum for example their beta testing got shut down by regulators. The repercussion of this was a 40% loss in value of Veritaeum. We all known in America what regulations have done to the economy. There’s a good chance that this will drive Crypto businesses out of the country into crypto friendly countries and allow these countries to flourish in the economy that is rising.
Banks will not give up easily they will try everything in their power to keep control. There is a huge bottle neck at this point that is stopping money from going into the space. That’s the control of our bank accounts how many of you have bank accounts that will not allow you to buy cryptos I know I do. We need to figure a way around this and I’m not sure how we do that. But I believe once those flood gates open it will be a title wave. Who ever controls the monetary system controls the country and that control will not change hands without a fight. Remember with everything they are throwing at Bitcoin it is still up $6000 in the last year. So, I believe train is to far down the tracks to stop it now they may delay it but its inevitable. It’s up to the US Government to decide weather they want to spend all their energy fighting the future. If they choose to it fight they will in turn send us to a third world economy which some parts of the US are already there.