The Cryptocurrency Global Marketplace has been acting really crazy this year. Here is my take:
That cryptocurrency is the newer kid on the block and has been proven to generate tons of revenue, “smart people” and even traditional institutional money investors have awakened and have figured it out. They have come to realize that they can make a lot of money if they use their vast monetary resources to manipulate the cryptocurrency marketplace. How?
By purposefully driving the prices down, buy cryptos when they are cheap, pump the prices up, selling, rinse and repeat.
Can Market Manipulation Be Stopped?
Can they be stopped? Frankly, no! They have too much money. Unless the cryptocurrency marketplace is regulated, market manipulation will continue and so will the many scams. In fact, more scams will surface.
What Can You Do?
Well, if you cannot beat them join them. What do I mean by this? Just run alongside them. I know that they drive the prices to buy more cryptocurrency. Do the same! Buy the cryptocurrencies you like when the market is down. Consider those down times as cryptocurrency sales. Likewise, I know that they purposefully drive the prices up so that they can sell the cryptocurrencies they purchased cheaply for profit. Do the same.
Rinse and repeat.
While interference by governmental agencies to regulate that which is supposed to be decentralized and hands-off by centralized entities, I see no other way to tame cryptocurrency.
It is the rich and wealthy who are getting richer and wealthier in cryptocurrency. The rest of us are getting the crumbs from the table. Cryptocurrency is not a level and fair playing feel.
Any honest-hearted person who has put a lot of money into cryptocurrency will have to admit that they lost a lot of money. They were taken.
A retired Information Technology Specialist and Foreign Service Officer with a large U.S. Government Federal Agency, Technical Instructor, Blogger, WordPress Instructor, Web Designer, Internet Marketer and Cryptocurrency Investor and Mentor.