***TL;DR up only.***
Although, there’s a way to cut out the middleman… Think about this…
Social media sentiment is largely driven by the mainstream media manipulating users. I think we can all agree on that.
i.e., someone sees some s*** about Bitcoin on the news, tweaks it and tweets it, influences sentiment (assuming it goes viral to some degree).
i.e., strategized account farms inject narratives into social media platforms to influence sentiment.
i.e., fake news is sold as truth and a quiet retraction is posted at a later date.
Albeit, there are anomalies like people who do honest and excellent TA & FA openly on social media but I think we can agree that they don’t have large enough user base (especially compared to cable television as they practically *make* you take it in their *bundles* (bundles also takes advantage of users because independent services should offer more of a price reduction than they do, akai want NO TV, I ONLY want fast internet, but I digress)) key information is withheld until it’s certain, or they’re being paid off sometimes rip McAfee ✌️ hope you’re eating your d*** in heaven.
Anyway, so take that idea, the mainstream media is influencing sentiment, so who is the mainstream media influenced by? The mainstream media is influenced by mega corporations.
Mega corporations don’t want crypto to take off because decentralization of finance eliminates various avenues of corruption and immoral practices that makes up a large part of their bottom line.
So, for me, in my opinion, betting on the OPPOSITE of the general sentiment of news coverage has been the golden goose.
Admittedly, this was a lot easier to do in the earlier days like 2017 and prior because it was so obvious, and I have no doubt they have entrie conference rooms of people all competing for a title and thinking of better ways to trick the public with mass psychological warfare, but it’s still a reliable indicator for now.
So if you cut out the middle man, which is the sentiment of social media, and assess the sentiment of mainstream news coverage instead, in the United States at least, you get a clear picture of the direction they WANT you to think the market is going so more of us make mistakes. Since they can’t influence the market directly at this time, like they are clearly capable of doing right now in plainview of the SEC, their best offense is to influence the market psychologically, or on 51% of the market and drive it down with force.
There’s a really beautiful example on XRP coverage on CNBC back in 2017 or 2018 that sticks out in my mind. Basically they coordinated two different shows on fast money. The first one showed you how to buy XRP, but it was at the all-time high or something. And then later they aired a video showing you how to sell XRP. But this time it was right after the ath crash.. So they were basically advising people to violate the number one law of investment. Buy low, sell high. So you see, it’s pretty obvious what’s goin on because…
No one is that stupid at that level of the media. No one is that stupid at the level of puppet master that it would take to control the media of an entire nation. They knew exactly what they were doing. They were manipulating the market in the most effective way that they could. Top level insider trading. You create these big swings on long time scales and just dump a ton of money into it. Whale trading. It’s their only chance to get ahead in ***the battle of markets***.
Ultimately I think it comes down to the fact that there are two buckets. One represents the ‘trust’ based value system. And the other represents decentralized finance. If we, as humankind, have collectively chosen to only have enough value to fill one, who do you think is gonna win? The system filled with fear, debt, ruling social classes and corruption we call FIAT (literally defined as an authoritative command. [FIAT definition – Merriam Webster](https://www.merriam-webster.com/dictionary/fiat) )? Or the democratized global value system designed to be used equally for all Humankind known as DECENTRALIZED Finance…
In other words, up only.
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