 ▲ Bitcoin (BTC), Price Manipulation / AI-Generated Image |
Sharp criticism has been raised that the rampant presence of scammers undermining the qualitative growth of the crypto asset market has effectively brought Bitcoin’s (BTC) upward cycle to an end.
According to cryptocurrency-focused media outlet U.Today on February 8 (local time), Ross Gerber, CEO of investment advisory firm Gerber Kawasaki, warned that the current Bitcoin market has lost its original value and devolved into a playground for fraudsters and agitators. Gerber, also known as a major investor in Tesla, pointed out that scammers spread across the crypto ecosystem are looting retail investors’ funds and obstructing healthy market growth.
Gerber assessed that while past Bitcoin bull markets were built on trust in technological innovation and decentralization, the current cycle has been contaminated by phantom projects with no real value and scammers obsessed with sensational promotion. He particularly criticized indiscriminate investment hype spreading through social media for increasing market volatility and driving long-term investors out of the market.
He added that without institutional mechanisms to restore transparency and trust, Bitcoin’s upward cycle will struggle to display the explosive power seen in the past. Gerber also projected that for the crypto industry to gain recognition from mainstream finance, an internal cleansing process must come first, and projects that fail to prove real use cases will soon be pushed out of the market.
Gerber Kawasaki maintains a conservative investment stance to protect client assets while cautioning against excessive bubbles and the involvement of scammers in the crypto market. While acknowledging Bitcoin’s long-term potential, Gerber repeatedly emphasized that in the current chaotic market structure, retail investors face a high risk of suffering substantial losses.
As Bitcoin prices lose direction and move sideways, Gerber’s remarks are prompting investors caught up in speculative frenzy to take a sober look at reality. The crypto industry is recognizing that removing scammers and establishing clear regulation is the only path to restoring trust and opening a new upward cycle.
*Disclaimer: This article is for investment reference only, and no responsibility is assumed for investment losses incurred based on it. The content should be interpreted solely for informational purposes.*