By The Daily Hodl - 9 months ago - Reading Time: 2 minutes
Investor Who Called Crypto Bottom Doubles Down on Bull Market Forecast – But There’s a Catch
Venture capitalist Chris Burniske is staying confident in his call that crypto is gearing up to enter a new bull market.
Burniske, a partner at Placeholder and the former head of crypto at Ark Invest, says that the digital asset space is essentially reacting to every obstacle thrown at it, and is set to come out the other end stronger than before.
“Every action incurs an opposite and equal reaction: Newton’s 3rd law applies to cultural motion, too.
Regulatory crackdown? Industry fights back and gets legal clarity.
Crypto gets called a joke? Builders make it not a joke.
People sell with force? Accumulators buy with force.”
The investor previously called for a slight correction before markets spring into a fresh bull phase. He says the call is still in play, and if prices go down in the near future, it may be the last great entry point for crypto bulls looking to ride the next cycle.
Says Burniske,
“[The] bears probably get one more shot at a 20-40% decline in quality crypto assets this year before the party starts for real next year into 2025. The question is from what prices will that decline begin…
Fed’s gonna push it til something breaks.
Can’t wait til we get to come back from the dead again. The infrastructure and product improvements will get us apps that have 10-100M+ MAUs (monthly active users) – right when the doubters say it’ll never happen.”
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Original source: The Daily Hodl