Venture capitalist and investor Chris Burniske believes the crypto market is gearing up for a massive bull run.
A partner at digital asset venture firm Placeholder tells According to his 297,500 followers on social media platform
However, the investor warns that market volatility could persist through September, before the bull rally.
“Sentiment is being reset and leverage is rising as most high-quality crypto assets are hitting significantly higher lows than we saw in 2023. Meanwhile, central banks worldwide are about to be forced into easing – some more turbulence possible in the third quarter, but a nice early bull setup regardless. ”
The analyst too believes that Solana (SOL) could do that surpass both Bitcoin (BTC) and Ethereum (ETH) this cycle.
“Every cycle I have tended to pay most of my attention to one big underdog. In 2014-17 it was BTC, in 2018-2021 it was ETH and in 2022 to date it is SOL…
If something is a nasty but differentiated underdog, the dynamic is more interesting to me personally…
The transition from underdog to established is what I do best. And so one day I’ll probably focus most of my attention on something other than SOL. Meanwhile, the entire crypto sector is still an underdog, which is why I support all serious efforts, despite the fact that relative outperformance is highlighted every cycle.”
Late last month, Burniske said a price target of $1,000 per SOL could look “conservative” going forward.
Solana is trading at $154.53 at the time of writing, down 4.35% in the last 24 hours.
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