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Chris Burniske
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@cburniske
Partner @placeholdervc; co-author #Cryptoassets πŸ“”; formerly led crypto @ARKinvest. Xeets not financial advice. Disclaimer: placeholder.vc/privacy-policy
New York, USA
Joined March 2016
Posts
  • Pinned
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    Increasingly convinced last Friday's massacre broke crypto for a while - hard to quickly develop a sustained bid, after such a meltdown. This cycle has been disappointing for most, which can paralyze action as people hope for bluer skies, or former ATHs. It's easy to get caught
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    No, but it crashes 99% over its lifetime.
    Has USD ever crashed 30% in one single day?
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    In the middle of 2021: $BTC drew down 56% $ETH drew down 61% $SOL drew down 67% Many others 70-80%+ You can come up with all the reasons for why this cycle is different, but the mid-bull reset we're going through isn't unprecedented. Those calling for a full blown bear are
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    Bullish from near the bottom, hope to see y’all at $10T.
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    1/ If your friends associate you with Bitcoin, Ethereum, or any part of crypto, you’re probably getting Qs about what to do. It’s tricky to guide someone from where we are currently ($BTC ~$100K), especially if they’re an inexperienced investor. Some learnings from 10+ years of
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    1/ Still longing $SOL while haters spinelessly pile onto the downside momentum. When @solana recovers, it's not me that will be haunted by the thought, "Instead of jeering, I could have been buying $SOL ~$10."
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    Never underestimate $BTC. Never underestimate $ETH. One will take the throne, but the two will co-exist.
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    Everyone looks like a genius in a bull market. Stay humble.
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    Bitcoin has lost its cultural hold on the crypto market, uncharted territory next.
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    1/ $ETH holding up remarkably well, while $SOL is forging its soul, purging all but the most committed.
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    If you can’t handle this dip, you won’t make it to $10K/100K anyway.
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    It seems too good to be true, but odds are crypto gets another opportunity similar to 2018/19, where the money-hungry newcomers will lose conviction, quality will get oversold, and the builders will be beasts in the quiet.
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    If $XRP isn't a security... $ETH isn't a security $BNB isn't a security $ADA isn't a security $SOL isn't a security $MATIC isn't a security $ATOM isn't a security $FIL isn't a security $ICP isn't a security And so on... Not a legal opinion, just common sense. gg GG 🫑
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    β€œSats” need to become the standard denomination if we want to someday see #bitcoin at $1,000,000.