Placeholder Partner: Market Not Yet Peaked, Expecting Selected Altcoins with Profitability Potential to Reward Holders

Placeholder Partner: Market Not Yet Peaked, Expecting Selected Altcoins with Profitability Potential to Reward Holders

Placeholder Partner: Market Not Yet Peaked, Expecting Selected Altcoins with Profitability Potential to Reward Holders

Since supporting cryptocurrencies, Trump, who won the US presidential election in December last year, Bitcoin has been fluctuating between $90,000 and $100,000 for over two months. Some members of the community are worried about whether the market has already reached its peak, especially during a recent period of sharp decline in many altcoins.

However, Chris Burniske, partner at the blockchain risk investment company Placeholder, remains optimistic. He believes that the current market has not yet reached the cycle top, but is in a phase of retracement similar to that of April to June 2021. He wrote on the community platform X last Saturday in response to related questions:

Burniske added that although this round of the market is indeed different from the past (but still similar in some aspects), Bitcoin has not experienced a significant decline, but may still fall further. Many altcoins are in pain, with prices falling to bear market lows. However, “pain prompts questions, and profound questions often bring good answers… and change.”

Using altcoins as an example, Burniske explained how the sector might improve to overcome difficulties.