The reality is there is a lot of corruption in finance. I knew this would happen after an analysis of the foreign exchange market. Since the pandemic, there have been a lot of manipulations and crypto would be a target. I mentioned this a while back on a thread I think.
I have been with cryptocurrency for some years. I lost trust in it when they introduced the futures contract. Before that, crypto used spot trading for trading contracts. Spot trading typically means you can buy and invest in it by trading it. With the majority of people buying, you can only expect its value to go up coupled with a sizeable amount of crypto coins released every period. Back then, you can not trade sell positions by shorting. You can only trade by buying it. Although, you can sell your coins to another person.
With futures, however, the opportunity to short it now exists. This opens crypto to a lot of vulnerabilities meaning crypto is at the mercy of big financial banks, or who knows, the central banks. What happens when the feds have major banks decide to short (or trade it by selling) BTC with billions of dollars, wouldn't it instantly go to zero? That's what a decentralized gets it, no regulation or protection available in the financial markets. I have hence decided it is too much of a risk and not my cup of tea. Also, with the inflation happening, I expect something worse to come. How does inflation affect it? Risk on/risk off. This means that pairs directly traded with USD are targeted. Dollar goes up, they come down. This wouldn't happen if they stayed with spot trading because you only bought. But with futures, BTC would be dumping hard because traders will be shorting it, and who knows, financial banks. Lastly, I just don't trust my investment in the hands of an unknown figure that hasn't been found.
I don't have a problem with the technology of blockchain. It looks too good and brilliant to be tossed away, but I don't think it is what it should be yet. And yes, I'm not a financial advisor 🙂