Wall Street bigwigs are often accused of deliberately manipulating the price of Bitcoin to accumulate the asset at lower rates, said Aaron Arnold, host of the popular YouTube crypto channel Altcoin Daily.
According to Arnold’s video, major financial institutions, including BlackRock, are coordinating efforts to suppress the price of Bitcoin. These tactics include market manipulation and media hype designed to influence public opinion.
Recently bitcoin ETF BlackRock has seen a significant outflow of $330 million, a dynamic that has been widely reported in the media. Arnold believes that this could be part of a planned strategy by major financial players like Larry Fink to drive down the price of BTC.
Arnold also recalled that TV host Jim Cramer admitted to influencing markets with his comments on Bitcoin.
Despite concerns about manipulation, the Altcoin Daily host noted the bullish sentiment surrounding Bitcoin. He cited BlackRock’s positive influence on Bitcoin adoption, noting that the asset management giant plans to allocate 2% of its portfolio to Bitcoin through your ETF.
According to the expert, even a small change in the portfolio of such a large organization can change the cryptocurrency market.
Arnold suggests that Wall Street’s possible moves to escalate the situation around Bitcoin could actually allow for an accumulation of BTC at a low price. In his opinion, retail investors have almost their last chance to buy Bitcoin priced below $100,000.