Placeholder partner: I might become interested in the market again when BTC reaches $75,000 or lower.
PANews, October 17—Chris Burniske, former Head of Crypto at Ark Invest and now a partner at Placeholder VC, posted on X: “Last Friday’s crash has left the crypto market stagnant in the short term. After such a collapse, it’s difficult to quickly form sustained buying momentum. This cycle has been disappointing for most people, which may limit action as everyone is waiting for a ‘market recovery’ or previous historical highs. It’s easy to get caught up in the minutiae of charts, but if you look at the monthly charts for BTC and ETH, they show we are still in a high range (though cracks have appeared), if you’re considering taking profits. MSTR is declining, gold is sending warnings, so is the credit market, and stocks will be the last to react. We can always expect a weak rebound, but I’ve already taken action (remember, cashing out is never all or nothing). I’ll be watching BTC’s reaction to $100,000, but if BTC reaches $75,000 or lower, I might become interested in the market again. This bull market is different from previous ones, and the next bear market will be different as well.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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