The ‘Crypto Bro’ is a self coined term to describe those intolerable people in tight fitting clothes that like to brag about their cryptocurrency successes. Yes, they were in the right place at the right time and made millions off the back of some small investments, great. They have benefitted from an anti-capitalist platform that had turned capitalist overnight.
During the cryptocurrency boom at the end of 2017 and the start of 2018, these bros became more and more prevalent, hitting the mainstream to show off their riches. It actually reached a point where it all became intolerable to the humble trader, really, nobody wants to know how much money these people have earned, we needed to find a way to shut them up.
Well, as The Independent have explored, finally, it seems their incessant voices have finally been dimmed, under a falling cryptocurrency market, one that they claimed would never reach the lows it has reached ever again. Now the humble trader can continue to trade alone, no longer forced to compare themselves to the elite few.
This is an industry that requires focus, crypto bros are merely a distraction, one that the industry could do without.
According to The Independent, the sheer existence of crypto bros was irresponsible and their attitudes and actions could actually have contributed to today’s falling markets:
“Experts are warning that cryptocurrencies have entered panic mode, which seems fitting given what’s been going on in the world’s major markets in recent days. after all the hyping of bitcoin, ethereum and the rest, there are now a lot of investors left in a very different position to the likes of the Winklevoss twins, who can afford to take the hit and get out of the crypto game at a loss. That’s why chatting up of cryptos at the top of the market by people who could afford to withstand huge losses was completely irresponsible.”
“People must take responsibility for their own decisions, of course. Was it stupid to put their money into something they didn’t really understand, without making sure to cover their backs? Yes. It really was. But the people who shouted about cryptos as a money making asset that The Man just didn’t understand also need to take responsibility. They played a part in bringing lots of small fish into the crypto pond, and now they’ve jumped out as the funds are being drained.”
See the full article for yourself, here.
Would the markets be less volatile, if these people didn’t surface?
Probably, these self named crypto bros have a lot to answer for. By inspiring people to invest through their imagined authority and their self proclaimed expertise, actually what they have done is make the markets more susceptible to volatility through panic. It’s something they should take responsibility for and something they are now suffering as a result of. Obviously crypto bros alone haven’t caused today’s disappointing markets, but maybe if they acted a little more humble, and took things as they came, they might not have encouraged the new wave of panic buying and panic selling that crushes the markets so much.
For now, let’s enjoy their silence. When the markets fly back up, they will return, it’s inevitable.