Ex-Hedge Fund Manager and Crypto Trader Affirms Goldman Sachs is Manipulating the Market
Some very harsh allegations about Goldman Sachs have been recently made by an exchange trader called Garen Ovsepyan. The former hedge fund manager has recently shifted to the digital currency market and has talked to the media about the decisions of the bank and on how they affected the crypto market and may have caused the crash.
According to Ovsepyan, Goldman Sachs has made “untrue reports” that it intended to roll out a Bitcoin trading desk and retracted the decision later only to manipulate the market. The trader has an obvious negative stance on Goldman Sachs and has affirmed that the market reaction could have been handled better with more liquidity.
Ovsepyan believes that in over 15 years in the market, he almost always take the opposite side of Goldman Sachs recommendation in FX trading and won 80% of the time. He has also stated that when the investors hear that some institution is making something, they should never let the FUD take control (fear, uncertainty and doubt) and have to be reasonable and not emotional.
He argues that it is something that is done a lot on the market to sell news and, this may create some effects in the market. He believes that this is exactly what was done by Goldman Sachs. They wanted the price to be influenced and then they used the misleading information as a way to manipulate the market.
Because of the bear market and the delicate situation in which the market is right now, he defends that the market tends to be more volatile and less protected from this. As the euphoria is gone, people are looking to anything that will help the market to move upwards because they are in awful positions.
While these people wanted the Wall Street types to be away from the crypto market before, they want them to pour money on it now and they have lost a lot and this makes them more easy to manipulate.
Thalr, The First Token In The World With Intrinsic Value?
As might have expected, Ovsepyan has something to sell. They all do, right? He is the creator of Thalr, which is claimed to be the first token with intrinsic value in the market. The token, he expects, will help the unbanked and the underbanked to have a safe haven that is not Bitcoin.
He believes that cryptos should decouple themselves from Wall Street and institutions like Goldman Sachs. If they want to be really borderless and decentralized, they should not be tied to any institutions.
Also, the market simply should not care whether Wall Street does or does not do. ETFs being rejected and companies abandoning plans are, according to him, a great thing and the future is bright (for his own token, of course).
Do you believe that Goldman Sachs manipulated the market? Is Ovsepyan just another entrepreneur trying to bash others to sell his solution? There are many variables and the answer is never simple. Follow our blog for updates.