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

[Rosemary Koech-Kimwatu]

Hi Mbugua,

I agree with you 100% !

Kind regards,

On Thu, Dec 7, 2017 at 9:03 PM, Mbugua Njihia via kictanet <
kictanet at lists.kictanet.or.ke> wrote:

> 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.
>
> ᐧ
>
> ᐧ
>
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-- 
Rosemary Koech-Kimwatu
Advocate
Legal and Regulatory Specialist- Oxygene MCL
Tel: +254 718 181644
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