The Co-Founder of Morgan Creek Digital and Bitcoin Bull, Anthony Pompliano, said that a new wave of traders are flocking the cryptocurrency market as they are defecting from the traditional market.
In an interview with CNBC, he postulated that the double standard and rampant manipulation against retail traders would cause a defection to the adopted system of the decentralized digital currency market.
According to his comments, these investors are going to find another basket to put their eggs, having being denied free and unrestricted access to the traditional market, and the new basket will be the decentralized digital currency market, which is a free market with a more liberal operation. Right analysis wins, wrong ones lose. There is no unannounced influence and limited period of operations. There is no call to square-off stock trading. You only depend on the wittiness of your analysis. Sadly, such freedom is lost in the American market, and all we have is a market manipulated. These factors and groaning are going to cause a huge and swift deflection to the cryptocurrency market that is more liberal and decentralized.
Pomp Podcast Host posited that technology played a huge role in leveling the ground between the two financial markets and the retail traders, and he called it “the Great Equalizer” that gives them the needed access to the two markets and the right information.
Adding more to his comments, he said that not anymore does anyone needs an initial connection to the Bloomberg terminal to open positions in the traditional financial markets. All you need at this age is a good connection to the internet and the right communication tools. You don’t need to attend dinners to get trading ideas. All you need is to connect on Twitter, get the right Telegram channels or chats, and even Reddit. You do not need to own an account with the traditional brokers again, he said.
According to popular belief that short-sellers exist to put a proper check on the bulls for the existence of a healthy market, the efficiency of the market depends not on the longs alone but a balance with the shorts. It is in this manner many believe that the retail investors are meant to question Wall Street. Down the history line, their opinion about Tesla, Bitcoin, GameStop is right. And it is high time we start believing in them.