Wall Street has stolen Bitcoin from the people out of fear and greed, according to blockchain evangelist Nick Ayton.
In a no holds barred Medium post, he argues that the investment banks are behind the massive drop in the cryptocurrency market cap in a concerted effort to buy the dip. We will then witness the pumping of prices “because they can and they will”.
He comments: “We have witnessed a systematic approach supported by broadcasters who are close friends of the banks , CNN, CNBC, and the new crypto press Coindesk and Cointelegraph, that sold out for profit rather than defend the crypto economy on which they were founded, to spread good news and encourage adoption, decided to propagate the fear on behalf of Satan, as greed once again took over from libertarian motives.”
Ayton concludes that Bitcoin is now firmly on the institutional radar as a separate asset class. But it won’t go to zero as the banks now they have their teeth into the market. “Will BTC continue to pump in 2019 is not the question. The real question is when the next Bitcoin bulls will emerge and this is once again linked to geo politics, what the bankers will do and the fall out from the next recession which arrived, although the central banks refuse to call this.”
“Watch out for the next set of Wall Street CEOs and luminaries talking Bitcoin up from a position months earlier of decrying it, as this will be a sure sign something is about to happen, especially new entrants offering ETF, crypto custody and other services,” he warns.
Check out the full Medium post here.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.