Was the recent crypto crash bound to happen? Or was it engineered? Is the bull market over for good? Or is the market gaining momentum, preparing for big movements? Your guess is as good as ours, but Moonrock Capital’s Simon Dedic is of the opinion that weak hands got their foot caught in a bear trap. Once again, they fell for a rich man’s trick.
Before we explore the case further, let’s make sure we’re on the same page by consulting Investopedia’s description of what happens in a bear trap:
To increase demand and get stock prices to rise, institutions might push prices lower so that the markets look bearish. This causes novice investors to sell stock. Once the stock drops, investors jump back into the market, and the stock prices rise with the increase in demand.
And let’s read exactly what Dedic said:
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I tend to believe this was just a massive bear trap.$BTC to 100k and $ETH to 9k still possible for me.
— Simon Dedic (@scoinaldo) May 25, 2021
So, were the sellers played? Let’s find out.
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