Daring capitalist Chris Buriske says that the current dip in digital assets is typical of every bull market cycle.
In one after On the Social Media platform X, Burnniske, the former head of Crypto at Cathie Wood’s Ark Invest and the current partner at Placeholder, points to other corrections in the 2021 Bull Market Cycle that ultimately precedes new highlights.
“In the middle of 2021:
BTC fell 56%
ETH has fallen 61%
Sol dropped 67%
Many others 70-80%+
You can think of all the reasons why this cycle is different, but the mid-bull reset that we are going through is not unprecedented. Those calling for a complete bear are misleading. ‘
At the time of writing, Bitcoin (BTC) fell by 20% compared to his all time, Ethereum (ETH) has fallen 50% compared to his all time, while Solana (SOL) dropped by 51%.
Earlier this month Burniske said that BTC’s matte price performance looked like a “Middle Cycle Top” that was reminiscent of April, May June 2021, when “Many said it was over, top callers gloated, and then we tore in 2h” 21. “
Former Goldman Sachs Executive and the current Real Vision CEO Raoul Pal Echoot the feelings of Buriske. Pal, who has been vocally bullish on crypto, also believes that the current correction is a speed bump on the way to new highlights.
‘You all have to learn patience …
This was 2017. Very similar macrosture:
5 x 28%+ pullbacks in BTC
The most lasted 2 to 3 months for a new high
Alts saw 65% corrections.
All were noise.
Do something more constructive than staring at the screen. “
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Featured image: Shutterstock/DTOSH/Roman3dart
