Venture capitalist Chris Berniske says long-time crypto investors should be eager to get into the market amid a correction.
Berniske, former ARK Invest analyst Cathie Wood and current Placeholder partner, says Bitcoin (BTC) has likely already printed its lows for a bull run, and with “quality alternatives” down significantly, opportunities for crypto bulls abound.
“I like where the market is now. Bitcoin is causing people with PTSD (PTSD) to fear the abyss when it has already filled the liquidation wick and is down ~15% from its recent highs.
Quality altcoins are holding or making higher lows on a number of important timeframes. Funding levels and sentiment indicate that the blood has drained from the faces of late-blooming bulls.
Santa cut it loose for the day, but didn’t deliver completely. However, with all the bullish developments in the fourth quarter currently masked by undertones of fear in the market, the situation is favorable for us entering 2025. Convinced investor, your mouth will probably start watering.”
According to the investor, Solana (SOL) looks poised to outperform both Bitcoin and Ethereum (ETH). He says he expects SOL to be the “faster horse” of the three major crypto assets.
At the time of writing, Bitcoin is trading at $93,489, Ethereum is trading at $3,356, and SOL is trading at $190.
Generated image: Midjourney
