🥷 Mainstream Media Manipulation
👋 Hi finance enthusiasts and fellow investors!
TL;DR:
Bitcoin price surged +6.79% linked to upcoming Bitcoin Spot ETF
Mainstream media and big financial players' narratives often misleading
Key to successful investing: focus on actions, not words
Think contrarily and do the opposite of the masses
It's been quite a week in the crypto world, especially for Bitcoin (BTC). We've seen a remarkable +6.79% increase in BTC's price over the last 7 days, and a whopping +38% over the last 30 days!
I've dived deep into the reasons behind this surge on CryptoExplorer Pro for my Pro Members. If you haven't joined yet, I highly recommend it for anyone looking to step up their crypto game.
If you’re a member, read the update here. If you’re not, you should join!
The Bitcoin Spot ETF Effect
In brief, the upcoming Bitcoin Spot ETF has been the min driving factor. As we inch closer to a potential approval day, expectations are soaring. The world's largest asset manager, BlackRock, is one of the applicants here, and CEO Larry Fink's bullish stance is hard to ignore. He recently declared on live TV, "Bitcoin is a flight to quality". Funny, considering a few years back, he labeled Bitcoin “an index of money laundering”. Talk about a 180-degree turn!
🔐 Members only: Read “Larry Fink and BlackRock's Bitcoin Journey” here.
A Pattern of Contradictions
This isn't an isolated incident. Remember when:
JP Morgan dismissed BTC as a worthless project, only to quietly offer crypto custody months later?
The Soros fund branded BTC a scam, then sneakily enabled their fund to buy crypto a week later?
Lessons Learned
These examples teach us a crucial lesson: Actions speak louder than words. And when it comes to investments, mainstream media shouldn't be our go-to guide. Often, media is just a tool to spread a particular narrative, sometimes even twisting the truth for those who control it (and have the right amount of money).
Investment Wisdom: Going Against the Grain
What works in investing often involves contrarian thinking:
Invest when nobody else is paying attention.
Be wary when your non-finance savvy friend recommends a "shady coin" - the top of the bull run might be in.
Remember, media coverage tends to cater to the masses. Not long ago, newspapers were writing Bitcoin's obituary. But watch them jump on the bandwagon when Bitcoin hits new highs, possibly over 100k next year.
Key Takeaways
Ignore the Gurus: They often miss the mark or have a hidden agenda.
Focus on Actions, Not Words: They reveal true intentions.
Don’t base your Decisions on Mainstream Media: It's often misleading.
Think Anticyclically: Doing the opposite of the masses can be profitable!
Make sure you get into the market, make informed & independent investment decisions and you’re already better of then 90% of the other investors.
I wish you all a nice weekend!
Cheers,
Stefan
Co-Founder CryptoExplorer