The near term rug pull has arrived…

As I mentioned in my post last Monday night, the near term rug pull I was expecting has officially arrived…

Personally, I would not be buying this dip until we see $45, minimum. I think we may once again see ~$3,200 ETH and $40 BMNR. We have zero near term catalyst. This does not mean you should sell your position but I would defensive right now, selling covered calls, etc...

We’ve had a few warning shots over the past month and yesterday was a total dud…

The big debate is have we entered a crypto bear market or are simply in a dip of an extended bull market. My current opinion is that we are in a dip in an extended bull market, but this purely based on my speculation that we are in an institutional cycle and once the prices drop low enough, institutional buyers will be buying the dip and not let the prices completely collapse. That could revive positive momentum for crypto, but again, this is very speculative in the near term and the current momentum is absolute dog shit IMHO.