Crypto Capital Manager: Ethereum and Bitcoin Selloff Was A “Bear Trap”

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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:

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

So, were the sellers played?  Let’s find out.

Related Reading | The Level Bitcoin Bulls Must Reclaim To Defend The Worst Monthly Selloff Ever



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