Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investor-chris-burniske-predicts-further-decline-for-bitcoin-and-altcoins/" data-wpel-link="internal">Investor Chris Burniske Predicts Further Decline for Bitcoin and Altcoins</a> 
Venture capitalist Chris Burniske, who previously predicted the 2022 cryptocurrency market crash, expects <a href="https://en.coin-turk.com/us-inflation-data-affects-bitcoin-btc-faces-high-volatility/" data-wpel-link="internal">Bitcoin</a> (BTC) to fall further in the short to medium term. Burniske particularly emphasized that altcoins will suffer much heavier losses in this decline. 
<h2 style="text-align: justify" id="strong-burniske-expects-bitcoin-to-retract-to-30-000-strong">Burniske Expects Bitcoin to Retract to $30,000</h2> 
Chris Burniske, a partner at venture capital firm Placeholder, stated on his personal account on <a href="https://newslinker.co/category/social-media/" data-wpel-link="exclude">social media</a> platform X that BTC could drop to a level between $30,000 and $30,600 before bottoming out. According to the venture capitalist, Bitcoin could even fall below $30,000, and such a move could cause altcoins to drop much more sharply: 
<blockquote> 
 Before everything is said and done, we may move from the mid-$20,000s to the last peak level, and I wouldn’t be surprised if we make a real move towards the previous all-time highs. The road there will be bumpy, and I expect fake rallies. Most importantly, this could take months to play out. 
 As always, patience will be your friend. If I’m right, altcoins will fall more in percentage terms than BTC. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-308072" src="https://coin-turk.com/wp-content/uploads/2024/01/Bitcoin-Altcoin-Chris-Burniske.jpeg" alt="" width="1024" height="576"> 
<h2 style="text-align: justify" id="strong-market-shows-signs-of-cooling-strong">Market Shows Signs of Cooling</h2> 
Furthermore, Burniske discussed the reasons supporting his prediction of a decline for Bitcoin and parallel altcoins. The venture capitalist underlined that we are in the first phase of the bull cycle and that the majority of the first parabola has occurred, indicating that the market is showing signs of cooling: 
<blockquote> 
 We’ve seen the majority of the cycle’s first parabola, and now we can’t ignore that this parabola is starting to break down. The macro looks unstable on many levels. New product innovations are near, but not quite there yet. The process is still happening in a closed manner. I never said I significantly reduced the risk, I’m just counting my bullets and sharpening my knife for when the moment comes. 
</blockquote> 
The largest cryptocurrency, Bitcoin, was trading around $41,750, up 2.19% in the last 24 hours at the time this article was prepared. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/investor-chris-burniske-predicts-further-decline-for-bitcoin-and-altcoins/" data-wpel-link="internal">Investor Chris Burniske Predicts Further Decline for Bitcoin and Altcoins</a></h5>

Investor Chris Burniske Predicts Further Decline for Bitcoin and Altcoins

Table of Contents

COINTURK NEWS

Other articles published on Jan 27, 2024

Binance and SEC Clash Over Evidence Production and Witness Depositions in Ongoing Legal Battle

Bitcoin ETF: Market Views Cement Towards an ETF “Standard” Over Bitcoin

Joe Parys Joins ChainGPT: A Visionary Partnership Bridging Technology and Community

How market downturn did a number on Bitcoin, Ethereum

Shiba Inu Token Burn Rate Plummets Despite Market Uptick

Francophone summit to pave the way for economic collaboration in Africa

Join our free newsletter for daily crypto updates!