BlockBeats News, October 17th, former Ark Invest crypto lead and current Placeholder VC partner Chris Burniske wrote, “I’m increasingly feeling like last Friday’s crash has put the crypto market into a short-term standstill, making it hard to quickly form sustained buying pressure after such a washout. This leg of the cycle has been disappointing for most, which may keep action limited as everyone awaits a ‘return to form’ or prior all-time highs. It’s easy to get lost in the weeds of the chart, but if you look at the monthly candles for BTC and ETH, they show we’re still in a high range (albeit cracked), especially if considering profit-taking.”
MSTR is trending down, gold is signaling caution, so is the credit market, with equities often being the last to react. We’ll always get a weak bounce, but I’ve taken action (remember, cashing out has never been all in or all out). Will watch BTC’s reaction to $100K, but when BTC hits $75K or lower, I may get interested in the market once again. This bull run is different from before, and the next bear market will be different too.”
