There Will Be No Bubble for Bitcoin and Ethereum, Here’s Why
Tech entrepreneur Mark Cuban has recently stated that Bitcoin is facing a bubble. However, Daniel M. Harrison, the CEO of DMH&CO and managing partner of Monkey Capital, reveals that such a thing is impossible due to the market-influencing capabilities of Bitcoin and Ethereum.
Market bipolarity
The main factor that makes a digital bubble impossible is market bipolarity. For many people, market bipolarity is confusing but it can be distilled in a few important and understandable viewpoints. Apparently, market bipolarity is directly affected by George Soros’ “theory of reflexivity.”
According to George Soros, market conditions are not influenced by equilibrium. Rather, they are “reflexive” due to the synchronization of two functions: cognitive and manipulative function. The cognitive function is a neutral thinking base - this is where economic participants assess facts for what they are.
The manipulative function, on the other hand, turns one fact (or a couple of facts) in order to gain an advantage. Once the cognitive mind is affected by the manipulative mind, the neutrality will be “painted” in a different light it becomes a manipulated fact.
Therefore, markets reflect the view and perspective of participants, not the full scope of economics.
The situation can be represented in two ways:
Manipulative Cognitive = Reflexive
Manipulative + Cognitive = Equilibrium
The aforementioned equations show that a manipulative thinking pattern is the usual baseline and not a cognitive function. This shows the reflexive nature of all markets one of the clear indicators that Bitcoin and Ethereum are far from experiencing a digital bubble.
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https://cointelegraph.com/news/there-will-be-no-bubble-for-bitcoin-and-ethereum-heres-why
So... believe what George Soros is telling us? The biggest crook of them all? The same guy who manipulated the gold price and hammered it down when it was surging back in 2010? Not me.
When Soros says something, believe the complete opposite.