Key Altcoin Strategy from the Analyst: There Is Even 1,000x!

Chris Burniske, former lead crypto analyst at ARK Invest and current partner of the Placeholder venture fund, shared his thoughts on current crypto market opportunities. This time, the issue brought up by the analyst was the return on investment of altcoin projects purchased regardless of current market conditions. Here are the details…

Burniske shared his Bitcoin and altcoin strategies

Giving a simplified version of the calculations, the expert assumed that the crypto market is returning more and more to a bull phase. He summarized that any eligible crypto asset could yield 475 percent results in up to five years. According to Burnisk, the problem with investing in the cryptocurrency market is not “wrong timing”. Instead, the problem is not enough investment at the right time.

Still, there is an argument for every thesis. Followers therefore quickly responded to the analyst’s observations. In his tweet above, the analyst stated that there is a 50 percent chance of a 50 percent drop in cryptos in less than a year. He also said that the probability of 10x rise in cryptos in 3-5 years is 50 percent. To draw attention to the fact that these have happened throughout the history of crypto, he used the following statements:

BTC 2017-17 bull run: 100x, ETH 2015-17 bull run: 1000x, BTC 2018-2021 bull run: > 20x, ETH 2018-2021 bull run: > 60x, SOL 2019-2021 bull run: > 200x. These are just a few of the examples. Possibility of using plenty of margin to make at least 10x on some.

The current state of the crypto market

The market continues to trade sideways. Meanwhile, it is also starting to wear out participants, giving hope to both the bulls and the bears. Bitcoin is currently trading near the key price points of $19,500-19,000. For more than two months, the market’s main cryptocurrency has been below the $23,200 price level, which historically marks the bottom of the cycle. Bitcoin fell 1.49 percent last week to $19,704. It gave up on gains after Friday’s US jobs data. Ethereum, on the other hand, gained more than 4% and traded at $1,551. Cardano’s ADA gained 10 percent.

Merge will take place in September. Thus, after years of Ethereum’s planning, the network will complete the transition from proof-of-work to proof-of-stake. With this expectation, the focus of traders was on Ethereum. On the other hand, Cardano of Ethereum co-founder Charles Hoskinson has revealed the exact date for the Vasil upgrade. Meanwhile, US non-farm payroll data also affected the markets. Non-farm employment data measures the number of workers excluding workers in some classifications. It is published on the first Friday of every month.

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