Jesse Livermore, ex-Wallstreet guy with more than 2 decades of experience in the most dangerous financial place on earth - Wall Street - has revealed his thoughts about the near time future of cryptocurrencies with some concerning coherent facts.
In his latest article "Dear Crypto, You’re Being Played By Wall Street" he is telling about what he thinks will happen in the upcoming weeks with the cryptoworld: Nothing good.
The Wolves of Wall Street
So, the lawyer representing the Winklevoss twins, Dalia Blass, is now the head Director of the SEC’s Division of Investment Management since August 31th this year. This is very important to know, since the Winklevoss twins applied for a Bitcoin ETF in March this year, which was not approved by the SEC. Now with their lawyer being the director of the US investment departement, there's a very very likely scenario that the Bitcoin ETF will now be approved.
He goes on to say that the latest china fud was a good strategy of wallstreet to turn the cryptomarket in a bloodbath. And with yesterday's fake news again involving China, this is a very logical option. With the cryptomarket staying in the reds, it will be a perfect timeframe for people involved with the Bitcoin ETF and some WallStreet Insiders to buy bitcoin, ethereum und other cryptos, especially those ones that will be in the Bitcoin ETF, for cheap before the biggest crypto bull rally the world has even seen, begins. And by knowing his fellow friends at Wall Street for more than 2 decades and being himself a 'Wolf of Wall Street', he concludes that "it would be a completely typical Wall Street move, reminiscent of many hyped up IPO’s which fizzled on day 1 as Wall Street sells what they’ve been accumulating for awhile to the eagerly-buying public.". Judging from his experience, he thinks that the 1st day the ETF will be traded it could be THE top for months or even years to come.
What Can You Do About It?
Get heavily invested in Bitcoin, Ethereum and also put some pennies in other top 20 shitcoins.
BUT Factom e.g. , that I personally consider a top cryptocurrency and would expect a cryptohedgefond to pick for the portfolio because of the actual use case, being in use already and the problem that it's solving, is currently at position 33 on coinmarketcap.com. And siacoin being at position 41 and its direct competitor at 74 (they both do offer cheap cloud services like amazon cloud, dropbox etc, but on blockchain and much cheaper) are also possible future stars, so that's why I recommend to look for a some fishes even with 8 digit market caps (storj has a market cap of about $54 million).
If you have enough time, you can read his article here: https://medium.com/@JesseLivermore/dear-crypto-youre-being-played-by-wall-street-35a1117ef859