Is George Soros crashing the crypto market?
In early January, George Soros gave Overstock $100 million to invest in cryptocurrencies and blockchain. Since January 5, 2018, we have had a reduction in market cap from a high of about $830,000,000,000 to low of about $360,000,000,000. That's over a 50% reduction. Judging by his past, it's not crazy to ask, did he plan to crash the crypto market?
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In 1988, George Soros was accused of insider trading, when he bought stakes in four formerly state-owned companies in France, including one of the country's leading banks, Société Générale, on behalf of his Quantum Endowment Fund based on confidential information. The stakes were worth a total of about $50 million at the time. He was found guilty, in 2002, by a French court of insider trading and was fined 2.2 million euros ($2.3 million), the amount prosecutors said he had profited from the trading.
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In 1992, George Soros brought the Bank of England to its knees. He destroyed England's monetary system by betting against the pound. This bet made him a billion dollars. This event is known in England as Black Wednesday.
This brings us to today. An event that could possibly be labeled as "Crypto Black Friday". I am just leaving this information out there. I make no claims I just offer evidence. Make up your own minds. It seems obvious whales are controlling the market, ask yourself, is there a bigger whale than george soros?
This chart is from January 6, 2018 to February 2, 2018
No, he did not. Crashing a market as part of some conspiracy is improbable to say the least. Markets crash because of a sudden change in perception of the participants. The current downward movement is part of a general swing in loss of confidence across all financial markets, and is fairly typically of markets that have sharply been on an upward trend.
He did not crash any currency in the past either. He simply foresaw a trend, and followed through.
I was just asking a question. While you are probably correct, I am high and it sounds cooler to have George Soros and the real life Dr. Evil. :)
Um.. he was arrested for insider trading.
Judging by the way the lame stream media spins the FUD it would seem as though 'they' want us out of the market.
Maybe so that the Big Boys can buy as much as they can with #btc at low prices.
Agreed @nzfxtrader I have been buying all week but this morning I really went in. I'm not sure if this is the bottom but I feel like I took a time machine back to late October.
I have shifted a small portion to STEEM. When Btc goes, Steem will follow.
so nice post.it is good.
Thank you!
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I thought he was just getting into crypto now but looks like his been in a while. I could see him using 'his' companies and interests manipulating this unregulated space to make some easy cash with futures.