Investor Who Nailed 2022 Solana (SOL) Bottom Predicts 2019-Style Crypto Rally – Here’s What He Means

A prominent digital asset venture capitalist believes that the crypto markets may mirror a major rally from recent years.

Placeholder Capital founder Chris Burniske tells his followers on the social media platform X that the crypto markets may soar and suddenly retrace as they did in 2019.

He says the crypto markets may dip in early 2024 by printing higher low prices in the cycle.

“If BTC and ETH rip here, and then everything else follows, we could be in for a mid-2019 repeat – going just high enough to get people to believe that maybe, just maybe, new ATHs (all-time highs) are around the corner, before enduring a final wipeout (Q1 2024?) and putting in firm higher lows.”

Burniske also says he remains bullish on Solana (SOL) after longing the Ethereum (ETH) competitor back in December 2022 when it was trading for around $10.

He said at the time,

“Still longing SOL while haters spinelessly pile onto the downside momentum. When Solana recovers, it’s not me that will be haunted by the thought, ‘Instead of jeering, I could have been buying SOL ~$10.’”

He says that SOL against ETH (SOL/ETH) remains in an uptrend after hitting a key level.

“0.02 SOL/ETH achieved: leaves no choice but to eye 0.03 ETH next.”

Image
Source: Chris Burniske/X

SOL/ETH is trading for 0.02249 ETH ($40.56) at time of writing.

Comments

Post a Comment

Popular posts from this blog

Xbox crypto wallet rumors raise hopes: How other tech giants navigate cryptocurrency

Uncover how major tech companies are exploring the cryptocurrency frontier. From patents to partnerships, delve into the unique approaches and initiatives leading the tech-crypto integration narrative. In a significant trend, major tech companies are increasingly getting involved in the world of cryptocurrencies. This growing connection suggests a future where digital currencies could play a pivotal role in our tech interactions. Amid this, the recent revelation about Microsoft’s plans to integrate a crypto wallet into its Xbox platform adds a new layer to this narrative, offering a glimpse into how tech giants might be leaning towards embracing cryptocurrency . Now, let’s explore how other major tech players are venturing into the crypto realm to better understand the overall landscape. Microsoft: a glimpse into the future The leaked documents concerning Microsoft’s ambitious plan to meld Bitcoin wallet s with its popular Xbox gaming platform have sparked exc...
Read more

Racy Beeple SBF artwork becomes his first to enter museum permanent collection

Image
The Castello di Rivoli Museo d’Artte Contemporanea in Italy has made a significant addition to its permanent collection , marking a milestone in the world of digital art. The museum has acquired its first non-fungible token (NFT) artwork , a provocative piece created and donated by the renowned digital artist Beeple. The artwork, named “FTX Board Meeting, Day #5676 11.13.2022 (2023),” is a unique blend of digital and traditional art forms. It exists both as a one-of-a-kind NFT and an oil painting. The piece, rendered in Beeple’s distinctive hyperreal style, imagines a day in the server room of the now-defunct crypto exchange, FTX. Carolyn Christov-Bakargiev, the museum director, expressed her appreciation for Beeple’s work, stating it represents a significant contribution that brings a 21st-century medium into the museum’s collection. The artwork, she noted, combines the digital and physical realms in a compelling way. The piece is not withou...
Read more

Marathon Digital Holdings enhances Bitcoin mining operations

Marathon Digital Holdings reported a production of 1,202 Bitcoins in October, selling 961 to cover costs, with a remaining holding of 13,396 unrestricted BTC as of month-end. Marathon Digital Holdings, Inc., a major player in the Bitcoin mining sector, has shared a snapshot of its performance and ongoing developments for October 2023. In the latest update, the company detailed a slight increase in its energized hash rate, signaling continued growth in its mining capabilities. Fred Thiel, Marathon’s Chairman and CEO, noted a 1% rise in the energized hash rate, now reaching 19.2 exahashes. This advancement is particularly attributed to the progress in the company’s Garden City, Texas facility, which contributed 4.1 exahashes. As this site approaches full operational capacity, Marathon is set to exceed its target of 23 exahashes, aiming to become the largest Bitcoin miner in North America. Marathon’s presence is not just growing in the U.S.; its international ventur...
Read more