Argentina's President Javier Milei admitted making a mistake on Saturday after promoting a cryptocurrency whose value soared and then crashed, with his office announcing an "urgent investigation".
Except that the boom-and-bust cycle is inherent to markets and there’s an entire cottage industry around encouraging those fluctuations in order to benefit from the arbitrage. It’s a classic pump-and-dump.
Not everyone wants market stability. If you’re in a position to affect the market, or react quickly to it, there is more money to be made in volatility.
Except that the boom-and-bust cycle is inherent to markets and there’s an entire cottage industry around encouraging those fluctuations in order to benefit from the arbitrage. It’s a classic pump-and-dump.
Not everyone wants market stability. If you’re in a position to affect the market, or react quickly to it, there is more money to be made in volatility.
Makes sense.