Bitcoin Conference and the sudden market price drop. Crypto in general feels like a game of manipulation

I saw a post in other subreddit that talks about how crypto market prices always drop whenever there’s a Bitcoin Conference.

That got me thinking, why is that? And then I looked at the crypt market chart of the last few days that kept going up and up until today, the day of the Bitcoin conference, when it finally crashed beyond 10 percent for most coins.

It feels like some seasoned investors are just building up the price and the hype for few days before an upcoming Bitcoin conference and then pull the rug on new and ignorant investors who were hoping that Bitcoin price would soar if there’s a big news announcement at the conference.

I also saw some fake news that talks about how Apple will partner with Bitcoin or something along those lines. I am sure that got some new investors jump in and bought a lot of Bitcoin when it was just a fake hype and fake news spread by some scammer to hype up the price of Bitcoin.

And then I see some other altcoins that are obviously rug pulls but new investors keep on buying because they believe in the fake news and fake promises (fake “partnerships” with big companies). That’s how it usually goes with crypto market in general. The price is driven by the hype of the false promises and partnerships. The promise that brings in a lot of money from suckers like me.

Don’t get wrong though. I think some crypto coins are legitimate like Bitcoin Cash that just works without fake news or false promises. Bitcoin Core (BTC) on the other hand makes a lot of promises but it’s still too slow and the fee is too high to be practical for normal people to use.

The whole thing with El Salvador was just a big fake news that didn’t really work. The only true thing about BTC is that billionaires like Michael Saylor are buying it because of the false promise that the price will keep going up forever.

I think such mentality is that of a cultist and it’s time that some of us wake up and realize that most of the hype in crypto market is just a scam.