Is Bitcoin manipulated? – Dr. Doom compares BTC with Casino

When does the Bitcoin bubble burst?

Professor Nouriel Roubini is known by his nickname Dr. Doom. The economist and professor at New York University is a renowned expert and has already advised the U.S. Treasury Department. Now Roubini said that he considers Bitcoin to be the most manipulated asset ever. So let’s take a look at what founders Dr. Doom names.

The Bitcoin Bullrun of the last few days was undoubtedly very fast. As we already reported, BTC managed to increase its market value by 80% within a short period of time.

The consequence of such rapid growth, which is not organic, is often a price correction. As a result, we also saw a correction in the Bitcoin price, which pushed BTC from around $19,500 towards the $16,000 mark.

After this happened, Roubini commented on the Bitcoin correction and said that individual investors in particular suffered from this phenomenon.

13% correction for Bitcoin. It is the most manipulated asset ever. The higher it rises, the more it falls. FOMO private investors are losing through whales just like in 2018.

Timothy Peterson, who is best known as a crypto analyst, commented on the statements of economist Roubini. Peterson said he often disagreed with Roubini, but on this point he shared Dr. Doom’s opinion.

13% down. Most manipulated asset ever. As I said they higher it goes the harder it will fall. FOMO-salivating retail suckers hoodwinked by manipulative whales will get shafted as in 2018!

To achieve this, we must intensify one aspect in particular. From my personal perspective, I agree with the statement that private investors in particular will suffer from such a correction. The rationale:
Unpleasantly little informed investors storm into the market only when Bitcoin is reported in the headlines. Instead of acting smart and achieving the best possible average price with the help of a savings plan, inexperienced investors invest with a high one-off sum after an 80% rally, which also took place in a very short time.
The consequence: Instead of maintaining a long-term investment horizon, as should be the case for all risky asset classes, panic spreads. A short-term correction of 10 percent or more looks painful when looking at the absolute figures of the portfolio. In the worst case, the uninformed investors will immediately sell again.

Choose the best and safest stock market for you

Deciding on the right provider is not always easy. Therefore, we recommend that you take a look at our Bitcoin Broker & Exchange Comparison. Trade on the safest and best exchanges worldwide! For comparison

Is Bitcoin like going to the casino?

Roubini also said that Bitcoin is not a real investment for institutional investors. Rather Bitcoin Whales are, which use the situation of the ignorant private investors.

Bitcoin plays no role in institutional portfolios. It is not a currency: not a unit of account, not a means of payment and not a store of value. Having BTC in your portfolio is like going to the casino.

On this point we have to disagree, because Bitcoin is obviously an important part of the portfolio for many institutional investors.

Argumentatively, we prove this, for example, by the high demand for the Grayscale products or by statements by Wall Street veterans such as hedge fund manager Paul Tudor Jones or Druckenmiller.

The fact that listed companies are shifting parts of their liquidity into the asset Bitcoin is probably another point in favor of Bitcoin.