Famous crypto analyst, CryptoWhale has warned the entire bitcoin market about the adverse effect that the current bull run will have on the market in the coming weeks.
One of the most talked about issues in the crypto market is when to buy Bitcoin and investors, and traders have always argued if it is a good move to buy before, during, or after a bull run. With market sentiments not abating soon as to that regard, the results have been evident with the number of ideologies circulated the market.
With that in mind, a more significant part of the market has been said to have joined the bandwagon when the bull run began. To others, it is their investing period, while the fear of missing out is pushing some.
Tether surge partly responsible for Bitcoin surge
Tentatively, one can argue that the more people are taking advantage of this, the higher the price of the digital asset will be in the market. This is one of the reasons why Bitcoin has surged to reached a year high of $14,000.
Trader and analyst CryptoWhale has taken it upon himself to explain the market’s rush. In his statement, he mentioned the difference between trading and investment market psychology exhibited by traders. Looking at the possibility that the Bitcoins price might decline in the coming days, CryptoWhale has warned investors to look before they jump into the market.
Also read:Before the bulls took on Bitcoin, the news went around that new money has been pumped into the market. This means that the digital asset surge is not as natural as the earlier suggestion of famous analysts and experts.
Tether can create fake money that can be pumped into the market, thus creating a steady inflow of fiats. According to CryptoWhale, this is because the Tether market has experienced a swell by a huge margin since the year began.
CryptoWhale says institutional investors are using Bitcoin to grow their assets
“This year, we’ve seen Tethers market cap grow by over 300%, which much of the MC has been funneled into BTC, and other assets to boost the price, and essentially launder money back into real fiat. The reason that isn’t sustainable, and supports my short-term bearish sentiment is the fact that Tether is currently involved in a massive fraud and price manipulation investigation by the U.S,” CryptoWhale said.
The entrance of institutional investors into the market has been seen as one reason why the influx of retailers has been on the rise.
CryptoWhale has mentioned that the hype about institutional investor’s influence on the market is fake. He said the narrative could be termed as an “overactive narrative”.
” To summarize, this whole narrative on institutional investors rushing to buy up all of Bitcoin’s supply is nothing more than a marketing scheme by big companies such as Greyscale, Square, and MicroStrategy to grow the price of their stocks,” he said.
Finally, CryptoWhale noted that Bitcoin is not the only market that has been on the rise as stock markets have also witnessed a considerable surge.
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