DeFi Planet

Chris Burniske, former ARK Invest analyst and partner at Placeholder VC, has advised crypto investors to avoid overhyping market targets despite the growing bullish sentiment.

In a recent post on X, Burniske reflected on past market cycles, urging investors to maintain realistic expectations and consider profit-taking as Bitcoin briefly surpassed the $100,000 milestone.

“People won’t like me saying this, but if $10T is the round # target, then we likely fall short of it this cycle,”

he wrote.

Burniske highlighted the 2021 bull market as a prime example of inflated expectations, referencing widespread predictions of Bitcoin hitting $100,000 and Ethereum reaching $10,000. In reality, the market peaked at around $70,000 for Bitcoin and $5,000 for Ethereum during that period. Reflecting on this, he pointed out that Bitcoin is only now approaching its earlier target, offering a valuable lesson about the pitfalls of market optimism.

As valuations increased, the Placeholder partner suggested a profit-taking strategy, advising investors who entered the market with a target of $10 trillion after it was valued under $1 trillion to consider selling in stages between $3 trillion and $10 trillion. He stressed that “no one ever lost money” by taking profits and noted that any missed gains during this process would be more of a psychological setback than a true financial loss.

Burniske also encouraged investors to align their financial goals with personal priorities, stating,

“Time is more precious than even $BTC.”

He emphasized that enjoying the returns is more important than chasing perfection.

Meanwhile, CryptoQuant CEO Ki Young Ju pointed out in November that Bitcoin’s rally toward $100,000 mirrors its 2020 surge when the cryptocurrency’s value increased sixfold to reach $67,000. He pointed out that on-chain data showing months of Bitcoin accumulation by whales, which was initially met with skepticism, has proven accurate.