Should we trust this pump?

So as we have all just witnessed over this past month, the crypto market is volatile. Starting out near 29k, and falling as low as 25k, it seems that any direction is possible at the tip of a hat.

Most recently, we have catapulted past 27k after some consolidation at 26k. However, altcoins are only at the very start of a recovery, if we are indeed embarking on one. As far as alts are concerned, today marks only a tiny blip on the bearish month.

Now, with bullish news about the SEC losing another case, it can be easy to think that this is the event to turn the tides of red around. However, it’s probably relevant to remember what happened right after the SEC lost a case against Ripple.

A massive pump on the day of the announcement. +75% on coins like XRP. The only problem was that as soon as the weekend was over, everything started bleeding out, until after a few weeks every single remnant from the original pump was gone. No positivity, no bullishness, no liquidity.

The ETF still hasn’t been approved. The SEC is still appealing and attempting to reverse every little victory. The current administration in the US is attempting to implement even stricter crypto tax regulations. And even the bad jobs report this morning that sent the stock market up doesn’t actually mean very much. The FED could easily keep raising and holding…all the while crushing market liquidity.

So while I enjoy seeing green, and a little bit of life being breathed into the crypto market, I would be ready for more potential setbacks. FUD likes to spread like a virus, and until we get some consistent positive news, I wouldn’t recommend taking out a second mortgage to go all in on crypto…yet