The post Ex-ARK Invest analyst warns against overhyping $10t crypto market cap targets appeared on BitcoinEthereumNews.com.

Placeholder partner Chris Burniske urges a cautious approach, advises balancing optimism with realism to avoid overhyping targets this cycle. Chris Burniske, former analyst at ARK Invest and current partner at Placeholder, a venture capital firm that invests in decentralized networks, has cautioned crypto investors against overhyping market targets as bullish sentiment grows. People won’t like me saying this, but if $10T is the round # target, then we likely fall short of it this cycle. It was a good rallying cry from a capitulation bottom, and will prove directionally correct this cycle, only to be exceeded with time. That said, as we enter a… pic.twitter.com/r1y8HE0DQf — Chris Burniske (@cburniske) December 5, 2024 In a Dec. 6 post on X, Burniske reflected on the lessons of previous cycles, urging a realistic approach to expectations and profit-taking as Bitcoin (BTC) has briefly crossed the $100,000 mark. “People won’t like me saying this, but if $10T is the round # target, then we likely fall short of it this cycle,” he wrote, adding that “It was a good rallying cry from a capitulation bottom, and will prove directionally correct this cycle, only to be exceeded with time.” Burniske pointed to the 2021 bull market as an example of inflated expectations, when $100,000 and $10,000 calls for Bitcoin and Ethereum (ETH) were prevalent. At that time, the market “capped out at ~$70K and ~$5K respectively back then, with $BTC only now reaching that target – lesson in there,” Burniske noted. As valuations rise, the Placeholder partner recommended a profit-taking approach, noting that investors who entered the market at under $1 trillion with a view toward $10 trillion would be wise to take profits in tranches between $3 trillion and $10 trillion. He emphasized that “no one ever lost money” by taking profits, adding that…

---

Filed under: News - @ December 6, 2024 7:18 am