Venture capitalist Chris Burniske said cryptocurrency investors with long-term confidence should rush to enter the market during the correction.
Burniske, a former analyst at Cathie Wood’s ARK Invest and now a partner at Placeholder, said Bitcoin (BTC) has likely already hit a bull market low, and given that “quality alternatives” have fallen significantly, there is no opportunity for cryptocurrency bulls. It says: There are a lot.
“I love where the market is right now. BTC has already filled the liquidation wick and is down up to 15% from recent highs, making people with PTSD (post-traumatic stress disorder) fear a cliff.
Quality alternatives are maintaining or setting higher lows in several important periods. Funding rates and sentiment show that the blood has been drained from the late blooming bull’s face.
Santa provided relief for the day, but he didn’t deliver everything. That said, considering all the optimistic developments in the fourth quarter, which are currently overshadowed by market fears, the setup heading into 2025 looks very good. “The short-term is always unpredictable and volatile, but the long-term is confident, which is what makes term investors salivate.”
Solana (SOL) appears poised to surpass Bitcoin and Ethereum (ETH), according to investors. He said he expects SOL to be the “faster horse” among the three major cryptocurrency assets.
As of this writing, Bitcoin is trading at $93,489, Ethereum is trading at $3,356, and SOL is trading at $190.
Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox
Check Price Action
follow us XFacebook, Telegram
Daily Hodl Mix Surfing
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
Image created by: Midjourney