[kictanet] Bitcoin - a case of painting the tape?

[Mbugua Njihia]

I am of the opinion that once an enduring and advanced trend is spotted,
the early adopter opportunity is long gone and the long tail remains one of
minimal or zero return on risk or investment taken.

‘Painting the tape is a form of market manipulation whereby market players
attempt to influence the price of a security by buying and/or selling it
among themselves so as to create the appearance of substantial trading
activity in the security. Two common objectives among market manipulators
of painting the tape are to lure unsuspecting investors into a security, or
achieve a high closing price for it. Unusual trading volume in a security
may attract investors to it. Cabals of market manipulators who have painted
the tape in a security generally expect to make significant profits by
offloading their holdings in it – which are usually acquired at much lower
prices – to investors unaware of the stock manipulation. These investors
are literally left “holding the bag” once the manipulation ceases and the
stock declines steeply in price. High closing activity attempts to create
an artificial price for a security by boosting its price substantially at
market close, since closing prices are widely reported in the media and are
closely watched by investors. Since most portfolios and securities are
valued on the basis of their closing prices, manipulators use this tactic
to achieve a higher market value for their holdings rather than their
intrinsic worth'

http://www.mbuguanjihia.com/business/cryptocurrency-value-proof-work.html

*Regards,*
Mbugua Njihia
Entrepreneur in pursuit of opportunities without regard to resources
currently controlled #WhatIsNext #AfricaRising. Business,more than any
other occupation, is a continual dealing with the future; a continual
calculation, an instinctive exercise in foresight.

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