Risk Capitalist Chris Burniske Says Crypto Market’s Sudden Reversal May Only Take One Day of Positive Action
Investors have informed him that his 324,300 followers on social media platform X are beginning to see signs of life in Longtail cryptocurrencies—or AltCoins further departing from the risk curve, which could signify the beginning of a bullish market structure.
“I’m starting to see strong signs of life in long-tail crypto assets—this signal isn’t always there, but it tells me that people are willing to take risks again with the major merger coming up… It only takes one day to flip to a neutral sentiment (and liquidity).”
Looking at the top crypto assets by market capitalization, Burniske noted that Bitcoin (BTC) appears to be responding to fluctuations in global liquidity, albeit with a delay.
Global liquidity refers to the amount of money in circulation within the financial system.
“BTC follows liquidity, but with a lag.”
Source: Chris Burniske/X
Earlier this month, Burniske doubled down on cryptocurrencies, describing the asset class as the fastest horse in finance, despite a corrective action. At that time, he warned that crypto bulls would not yield as prices declined.
“Selling here is unlikely to be a good idea if you’re wavering—because if you sell here, it also tells me you’re easily shaken out at the top. The worst thing is to just sit on your hands, and if the price helps, you won’t even look at the price. If there’s dry powder left, and if things look really appealing to you, or when you feel the most nauseous, add a little here and there. [Not financial advice], just sharing my two cents.”
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