Placeholder partner Chris Burniske recommends a cautious approach and advises balancing optimism and realism to avoid overestimating targets this cycle.
Chris Burniske, former analyst at ARK Invest and current partner at Placeholder, a venture capital firm that invests in decentralized networks, cautioned crypto investors against overestimating market targets as bullish sentiment grows.
In a Dec. 6 article on
“People won’t like me to say this, but if $10 trillion is the # cycle goal, then we probably won’t reach it this cycle,” he wrote, adding that “C It was a good rallying cry coming from a place of capitulation, and proving that this cycle is directionally correct, only to be overcome with time.
Burniske cited the 2021 bull market as an example of exaggerated expectations, when calls of $100,000 and $10,000 for Bitcoin and Ethereum (ETH) were widespread. At that time, the market “capped at ~$70,000 and ~$5,000 respectively, and $BTC is only now hitting that mark – a lesson there,” Burniske noted.
As valuations rise, the Placeholder associate recommended a profit-taking approach, noting that investors who entered the market for less than $1 trillion with a view to reaching $10 trillion would be wise to take profits in increments of between $3 trillion and $10 trillion. He stressed that “no one has ever lost money” by taking profits, adding that any gains lost in the process would amount to psychological discomfort rather than actual losses.
“No one has ever lost money taking profits, the gains lost as you reap on the way up are just a psychological pain. Sure, keep money forever, but also binge profit and live your life.
Chris Burniske
The Placeholder partner also urged investors to balance their financial goals with their life priorities. “Time is more valuable than even $BTC,” he wrote, emphasizing the importance of enjoying returns rather than striving for perfection.
Burniske’s advice comes as Bitcoin finally surpassed $100,000, setting a new all-time high of nearly $104,000. However, the BTC price has since returned to $95,000. At press time, Bitcoin was trading at $98,067, with the total crypto market cap at $1.94 trillion.
