The venture capital Chris Burniske says that the current decline in digital assets is typical of any bull market cycle.
In an article on the social media platform X, Burniske, the former crypto chief at the Ark Invest by Cathe Wood and current partner of Paceholder, underlines other corrections in the 2021 Haussier market cycle which Finally preceded new heights.
“In the middle of 2021:
BTC dropped by 56%
ETH lowered 61%
Soil lowered 67%
Many other 70 to 80% +
You can find all the reasons why this cycle is different, but the reset of the environment that we live is not unprecedented. Those who call for a full bear are wrong. »»
At the time of writing, Bitcoin (BTC) is down 20% compared to its top of all time, Ethereum (ETH) is down 50% compared to its top of all time while Solana (soil ) is down 51%.
Earlier this month, Burniske said that BTC’s dull price performance looked like a “high in mid-cycle” which recalls in April, May 2021, when “many said it was finished, the top -Citters judged, then we torn 2 hours 21. ”
The former Goldman Sachs executive and current CEO of Real Vision, Raoul Pal, echoes the feelings of Burniske. PAL, which has been vocally optimistic about Crypto, also believes that current correction is a slowdown on the path of new summits.
“You all need to learn patience …
It was in 2017. Very similar macro Macro:
5 x 28% + BTC withdrawal
Most lasted 2 to 3 months before a new summit
Alts have seen 65% corrections.
All were noise.
Go do something else more constructive than watching the screen. »»
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