- Trump announced a de-escalation of the conflict in the Middle East on April 17.
- This has driven up prices of stocks, cryptocurrencies and commodities.
- Peter Schiff believes Trump made these statements for the benefit of insiders who made billions.
Economist Peter Schiff has attributed US President Donald Trump’s optimistic tirades to an attempt to manipulate the market.
17 April edition Happy Coin News reportedTrump expressed confidence in a quick resolution of the military conflict in the Middle East and said that Iran had agreed to fully open the Strait of Hormuz for shipping. However, the Iranians did not confirm this information, and the uncertainty surrounding the situation in the Persian Gulf returned.
“The most likely explanation for Trump’s false claims on Truth Social on Friday is market manipulation. If true, insiders must have made billions. The next most likely explanation is that Donald is insane, incompetent, or both,” Schiff wrote.
Trump’s optimistic outlook has indeed caused significant disruption in the cryptocurrency, US stock, and commodity markets. For example, эфириум suddenly went up in price by 6,3%, S&P500 index rose by 1,2%, and gold more than tripled in price by 2,5%.
However, the bullish trend in the ETH market and many other digital assets turned out to be short-lived, and эфириум The stock quickly fell to almost the point where the upward trend had begun. This fact indirectly confirms Peter’s suspicion of market manipulation.
Insiders may have bought cryptocurrency before the president’s social media posts and sold it at a higher price after the pump, which could have caused a resumption of the downward trend. Therefore, a similar fate is likely to befall gold and stocks, which begin trading on Monday.
The rise and fall of Ethereum
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