The Significant Implications of the Arrest of 3 Coinbase Executives on Higher BTC and ETH Prices

Despite what the rest of the cryptocurrency community vows

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Though the story of three Coinbase executives being arrested for “fraud conspiracy and wire fraud” and parlaying inside information to the tune of $1.5M in profits last week was summarily dismissed by most cryptocurrency websites without any discussion of how these arrests would affect future cryptocurrency prices, and even promoted for months by the likes of Kevin O’ Leary as a positive thing for future BTC prices, I have always had a different take on the affect such stories would have on BTC and ETH prices. For what is the conviction of trading on inside information but the work of regulations in action, which many, like Kevin O’Leary, have repeatedly stated, would be a positive development in launching BTC prices to the moon?

On the contrary to this ill-informed take, I have been warning for well over a year now, that regulations would present headwinds to BTC and ETH prices for continuing upward prices, once they started to rear their heads in the crypto asset community. In fact, in a podcast titled, “The Most Imporant BTC Podcast Ever” I posted on my patreon platform last April 2021, I started to heavily warn of the pure guesswork and anti-research based fraudsters that were predicting 2021 year-end $300k BTC prices, predictions that lured speculators by the thousands to invest their savings into BTC in dreams of “getting rich quick”.  

A year ago, I was already actively discussing how cryptocurrency regulations would be negative, not positive, for future BTC and ETH prices. On 10 July 2021, I published an article titled “The Likely Implications of the UK FCA Binance Product Ban on BTC and ETH”, followed by several more issued warnings over the next two months, including a still-relevant post titled, “The Massive USDT/ BTC Problem”, culminated by a 6 September 2021 post titled, “Tether Update, my MM Coin Prediction, and Ongoing Regulatory Issues”.

Thus, I made my position crystal clear that incidences like the one in which regulatory officials convicted crypto investors of conspiratorial fraud would be BTC and ETH price negative. Furthermore, these three arrests will be insignificant and represent just the tip of the iceberg relative to the much more significant coming arrests of famous YouTubers that likewise have committed conspiratorial fraud, but on a much larger and significant scale. For this reason, combined with manipulation metrics that predicted cryptocurrencies would top last November, I issued strong sell opinions last November 2021 for cryptocurrencies, but for Bitcoin in particular.

Since then, I have reiterated my very well-researched, non-conjecture based opinion that as cryptocurrency regulations start entering the arena of financial regulations and the lexicon of regulatory language, they will present serious headwinds for cryptocurrencies and major obstacles for higher prices. My beliefs are in direct opposition to the BTC maximalists who continue to mislead all their followers into falsely believing that coming cryptocurrency regulations will finally launch BTC and ETH prices “to the moon”. Based upon my research, as ETH hit $1,588 and BTC hit $22,700 last week, I mentioned that immediate prices would likely move higher, once again stirring up hope, but that such a development would not mark an opportunity to average up after buying the dip, but only represented an opportunity, in these exact words, to “sell into strength” for HODLers that failed to correctly divest last November.

Since then, ETH rose about another $100 and BTC rose above $24,000 (rising slightly higher in the immediate term as I stated was probable), but have now respectively dropped back to $1,413 and $21,094, thus provoking my opinion to “sell into strength” at $1,588 ETH and $22,700 BTC. In any event, to discover why the arrest of the three Coinbase executives spells more trouble for all cryptocurrency prices moving forward, listen to my very short podcast above.

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