Bitcoin Rallies Following Day Of Ji-Hodl, Cointelegraph Pivots Business Model

Bitcoin Rallies Following Day Of Ji-Hodl, Cointelegraph Pivots Business Model
Photo by Nick Chong / Unsplash

Bitcoin rallied all the way up to $30k following the "day of Ji-Hodl" as buy pressure from thousands of Twitter users buying $25 worth of Bitcoin sent the price shooting up. The rally was assisted by Cointelegraph publishing a Bugle like story, claiming that a Bitcoin Spot ETF had been approved, when in fact it had not.

Cointelegraph does not appear to be transitioning into satire, though they would probably gain a credibility boost if they did. Instead, Cointelegraph appears to be transitioning to paid stories to create market manipulation, like many other news publications before them. The days of publishing what appears to be credible stories, only for insiders to countertrade the news could create a bright future for the news publication. In a financial system built entirely on fraud, it pays off to participate in the fraud. Cointelegraph changed the website slogan from "The future of money" to "Moving markets if you pay us."

The Bugle received an employee handbook from an insider at Cointelegraph, and found that one of the stipulations of working at the company includes participating in an occult ceremony to sell your soul to the devil upon hiring. This is a pretty standard practice in most media circles as journalists do not typically have souls. Despite this practice being an industry standard, the public remains unaware of it, as it sounds like an outlandish conspiracy theory.

It's a pretty open secret that ETF's are used to manipulate price of commodities and that if the Bitcoin ETF were to be approved, it would likely have a dampening impact on price volatility to the upside, as it would allow the people who pull the financial strings of the world to issue paper Bitcoin. The beautiful part of this saga is how the SEC is using blatant market manipulation as a reason to avoid approving the ETF. Their point has been proven this week as Cointelegraph clearly manipulated the market. Understanding the SEC's motivation for what they do is pretty difficult.

Blackrock owns all the employees at the SEC, and currently has an ETF pending approval by the regulatory agency. Despite Blackrock owning them, it doesn't appear that approval is quickly coming bringing up the question on whether Blackrock's proposal is a smokescreen to highlight bad behavior in the industry, but also as well as to create more uncertainty.

The current level of fraud in the crypto industry shows that it is maturing. The crypto industry has a long way to go before it catches up to Wall Street which has had hundreds of years of a head start. It took Wall Street hundreds of years to have Bernie Madoff, but only took Crypto about 14 years to have Sam Bankman Fried.

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