For discerning investors, Scott Minerd would be manipulating the market to give Guggenheim Partners an advantage, which has clear intentions of buying more Bitcoin in the near future
From 2020 to 2021 Bitcoin had its highest price so far, with one of the main valuations in its history. One of the main engines for this growth was the wave of institutional adoption in the ecosystem.
Some attentive investors are realizing that some members of this institutional adoption may be trying to manipulate the market.
It all started with a tuite by Scott Minerd, Chief Investor at Guggenheim Partners.
Minerd talked about the current increase in Bitcoin Victory value and how the high would soon lose momentum.
„Bitcoin’s parabolic valuation is not sustainable in the short term.
Vulnerable there is a correction.
The technical target of US$ 35 thousand was exceeded.
Time to take some money out of the game“.
Bitcoin’s parabolic rise is unsustainable in the near term. Vulnerable to a setback. The target technical upside of $35,000 has been exceeded. Time to take some money off the table.
– Scott Minerd (@ScottMinerd) January 11, 2021
Did you notice something wrong with the tuite?
Many investors disagreed with Minerd’s opinion, which is a Bitcoin whale publishing opinions that can change the market price.
For many, it smells like manipulation, this time on an institutional level. The situation gets even more complicated when we look at another Scott Minerd tuite published about a month ago saying that Bitcoin would reach $400,000.
As someone with a lot of influence within the cryptomarket, being able to pour a lot of coins, his opinions can change the value of the currency.
For some, what Minerd did was exactly that, being able to lower the price of Bitcoin so that your company could buy for a lower value.
„Enough of this, let’s counteract this FUD.
This is the same guy who predicted the Bitcoin at US$ 400 thousand last month.
Clearly a banker trying to get cheap coins“.
@pierre_rochard @AMERICANHODL2 enough circlejerking, let’s get some counter fud going from the maxi camp please.
This is the same guy who predicted $400,000 a coin last month.
Banker clearly trying to get coins cheap.
– Chungus Capital (@ChungusCapital) January 11, 2021
For others, Minerd could be manipulating the market to give the Guggenheim advantage, which has clear intentions of buying more Bitcoin in the near future.
„The Guggenheim, where Scott is CIO, has just registered with the SEC to buy $500 million in Bitcoin.
They want to buy cheap, so he starts talking about ‚taking money out of the game‘ and ‚unsustainable high‘ so that you get scared and sell.
His company will buy your panic“.
The Guggenheim, where Scott is CIO, just filled with the SEC to buy 500M dollars of Bitcoin. They want to buy cheaper so he starts talking about „taking some money off the table“ and „unsustainable rise“ in order for you to get scared and sell. His company will buy your panic.
– Eduardo Silva (@naohavoltaadar) January 11, 2021
The Guggenheim is one of the institutions that entered the recent Bitcoin wave, and at the end of 2020 it made requests to the SEC for the regularization of millionaire purchases of digital currency.
„No finance manager with the ability to move the market announces that it will sell.
You sell and then talk, or just talk. Two options,“ commented Alex Kruger, famous criptomarket commentator.
No money manager with the capacity to move the market announces is going to sell.
You sell, then talk. Or just talk. Two options.
– Alex Krüger (@krugermacro) January 11, 2021
It is worth remembering that many investors always want to make money, even if it means going against certain principles.
Of course, this shouldn’t be the case with Scott Minerd, but the community shows that they’re looking at this possibility.