Ethereum

bullish

Planet

<div class="intro-text">
 Chris Burniske, former ARK Invest analyst and partner at Placeholder VC, has advised crypto investors to avoid overhyping market targets despite the growing bullish sentiment.
</div>
<a href="https://twitter.com/cburniske/status/1864783036661072279?t=sin0VN0gSClRcStjI9OgBQ&amp;s=19" rel="noopener noreferrer nofollow">In a recent post on X,</a> Burniske reflected on past market cycles, urging investors to maintain realistic expectations and consider profit-taking as Bitcoin briefly surpassed the $100,000 milestone. 
<blockquote>
 “People won’t like me saying this, but if $10T is the round # target, then we likely fall short of it this cycle,” 
</blockquote>
he wrote.&nbsp;
Burniske highlighted the 2021 bull market as a prime example of inflated expectations, referencing widespread predictions of Bitcoin hitting $100,000 and Ethereum reaching $10,000. In reality, the market peaked at around $70,000 for Bitcoin and $5,000 for Ethereum during that period. Reflecting on this, he pointed out that Bitcoin is only now approaching its earlier target, offering a valuable lesson about the pitfalls of market optimism.
As valuations increased, the Placeholder partner suggested a profit-taking strategy, advising investors who entered the market with a target of $10 trillion after it was valued under $1 trillion to consider selling in stages between $3 trillion and $10 trillion. He stressed that “no one ever lost money” by taking profits and noted that any missed gains during this process would be more of a psychological setback than a true financial loss.
Burniske also encouraged investors to align their financial goals with personal priorities, stating, 
<blockquote>
 “Time is more precious than even $BTC.”
</blockquote>
He emphasized that enjoying the returns is more important than chasing perfection.
Meanwhile, CryptoQuant CEO Ki Young Ju <a style="color: #0000ff;" href="https://defi-planet.com/2024/11/cryptoquant-ceo-draws-parallels-between-bitcoins-rally-and-2020-surge/" rel="noopener noreferrer nofollow">pointed</a> out in November that Bitcoin’s rally toward $100,000 mirrors its 2020 surge when the cryptocurrency’s value increased sixfold to reach $67,000. He pointed out that on-chain data showing months of Bitcoin accumulation by whales, which was initially met with skepticism, has proven accurate. 
<blockquote>
 “Many criticized the data as exaggerated,” 
</blockquote>
Ju acknowledged, 
<blockquote>
 “but the reason for the accumulation is now clear.”
</blockquote>
&nbsp;
If you want to read more news articles like this, visit <a style="color: #0000ff;" href="https://defi-planet.com/" rel="noopener noreferrer nofollow">DeFi Planet</a> and follow us on <a style="color: #0000ff;" href="https://twitter.com/PlanetDefi" rel="noopener noreferrer nofollow">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/" rel="noopener noreferrer nofollow">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402" rel="noopener noreferrer nofollow">Facebook</a>, <a href="https://www.instagram.com/defi.planet/" rel="noopener noreferrer nofollow">Instagram</a>, and <a href="https://coinmarketcap.com/community/profile/DeFiPlanet/" rel="noopener noreferrer nofollow">CoinMarketCap Community.</a>
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Chris Burniske Warns Investors: Avoid Unrealistic Goals Amid Bitcoin’s $100K Surge

DeFi Planet

Other articles published on Dec 6, 2024

U.S. SEC Unlikely to Approve Solana ETFs Under Current Leadership, Report Reveals

Qubetics Presale Delivers Big Returns as AAVE Innovates With Stablecoins and Render Expands GPU U...

Leverage ETF Surge: MicroStrategy Dominates Bitcoin Markets

Why is Bitcoin price down today?

Bitcoin Reaches New Heights: Businesses Gear Up for the Crypto Boom with NOWPayments

Bitcoin Rebounds Above $100K After Short Liquidity Grab

Join our free newsletter for daily crypto updates!