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Venture capitalist Chris Burniske says that the current dip in digital assets is typical of any bull market cycle. In a post on the social media platform X, Burniske, the former head of crypto at Cathie Wood’s ARK Invest and current partner at Placeholder, points out other corrections in the 2021 bull market cycle that ultimately preceded new highs. “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 misguided.” At time of writing, Bitcoin (BTC) is down 20% from its all-time high, Ethereum (ETH) is down 50% from its all-time high while Solana (SOL) is down 51%. Earlier this month, Burniske said that BTC’s lackluster price performance looked like a “mid-cycle top” reminiscent of April, May, June ...

Venture capitalist and investor Chris Burniske believes that the crypto market is setting up for a massive bull run. A partner at digital asset venture firm Placeholder tells his 297,500 followers on the social media platform X that he believes crypto is gearing up for a big upside burst after this week’s marketwide correction, buoyed by an imminent boost in global liquidity. However, the investor warns that market volatility could persist through September before the bull rally. “Sentiment reset and leverage flush while most quality crypto assets put in significantly higher lows than we saw in 2023. Meanwhile, central banks globally about to get forced into easing – a bit more turbulence possible in Q3, but regardless a beautiful early bull setup.” The analyst also believes that Solana (SOL) could outperform both Bitcoin (BTC) and Ethereum (ETH) this cycle. “Each cycle I’ve tended to give a majority of focus to one major underdog. ...