Crypto rug-pull cometh

Right now Bitcoin is above $22,000, a gain of 45% since the beginning of the year. As to be expected, the usual hype has returned. The mainstream financial media, YouTube and Twitter hucksters/grifters, and ‘reputable’ business publication like Bloomberg work in unison to stir hype about crypto, with headlines about “Bitcoin going to $100,000” and so on. Anyone who has read books about the 2008 crisis or any Michael Lewis book, knows how this is going to end, which is to say badly. It’s the same pattern…you can see it from a mile away. Just when the hype reaches its crescendo, the rug is inexplicably pulled out. And it’s always way sooner than expected; people rationalize they can exit the crowded theatre before the masses/herd does, only to find themselves part of the herd.