Personally I don't think it is since I haven't seen capitualtion of retail investors yet. But most ETA investors are under water now. If we see some more flash out, it would be a good opportunity I think.
I would only nibble at the moment until there is a capitualtion event.
Good sign is: The number of unique entities holding at least 1,000 BTC has increased from 1,207 in October to 1,303.
