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Most of the famous wall street investors have criticized in the past criticisms of Cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), etc. In their highly publicized "financial advice". They have warned the public to invest in digital resources by calling them false, fraudulent and often predicting an imminent dive to zero.
However, a quick glance at the behavior of their investments shows that, after such warnings, the Crypto markets usually react and a significant reduction in prices results. It is interesting to note that the same critics anonymously take the opportunity to invest strategically in Cryptos. Thus, their criticisms are intended to shake the markets and cause volatility causing a sell-off increase over repurchases.
However, Crypto's markets are maturing and volatility is emanating from other factors rather than negative publicity. So, there is no logic to follow the advice of these rich Wall Street personalities and fall for their veiled orders of the day.
Learn from the accident of September 2017
Before the middle of 2018, the Cryptos were highly vulnerable to individual actions because they were still in their births, where many referred to them as the most unbridled investment options. In this period, in September 2017, the famous financial magnate Jamie Dimon, the CEO of JP Morgan and Morgan Stanley, warned the employees of the institutions to invest on BTC with threats of dismissal. The markets responded and BTC plummeted by 24%, however, it later emerged that the "anti-Bitcoin" lawyer was the biggest buyer of BTC in the subsequent crush.
Looking at Dimon's case, his preference for BTC and Cryptocurrencies was that of an "on-and-off" support but the shares of JP Morgan and Morgan Stanley indicate a strong preference for BTC and other Digital Asset-based investments.
Goldman Sachs and Soros also provide mixed signals on Cryptos
In January 2018, Crypto markets, a currency speculator, warned the world that Bitcoin was a bubble that was about to explode. This led to a 44% decrease in the BTC value. However, within 3 months, internal Soros Family trading presented a Cryptocurrency trading service.
In addition, Crypto markets, on February 7, speculated that Cryptocurrencies would crash to zero. This caused a 27% decrease in the BTC value. However, the company invested in Circle, a startup that had invested $ 400 million in the acquisition of the Poloniex Crypto exchange. This was seen as a broader scheme by Goldman Sachs to lay the groundwork for its Crypto trading desk.
Other high-value personalities to invest in Cryptos despite their public disapproval include; Stephen Cohen, who is a billionaire hedge fund investor, Marc Lasry who is CEO of Avenue Capital Group, etc.
Cryptocurrencies are volatile, but there are many others
BTC, for example, began to trade from a paltry $ 0.003 to the current $ 3.425. Other digital goods have grown with similar margins. Growth was mainly speculative because Cryptos are assets in nature.
In addition to the price aspect, there is the aspect of convenience, privacy, efficiency, decentralization, etc. That digital goods offer to industries like banks, insurance companies, etc. Thus, the future of Cryptos is guaranteed by the very nature of their benefits rather than what the main market manipulators aspire.
