My view remains clear. In fact, it might have been healthier from a volatility perspective if Bitcoin had declined quickly in early April. However, we’ve once again seen a rebound accompanied by seemingly convincing narratives that rebuild market expectations and I do not view this as a positive development. If this pattern continues, it increases the likelihood of another downside shock in the market. I’ve been emphasizing a bearish cycle since last August. That said, when the time comes, I will be just as clear in calling for a bullish move. For now, it doesn’t seem like that time yet. As those who have followed me for a long time know, I am an investor who calls for bullish moves more than anyone else.(mignolet)