Placeholder partner: After the recent sharp decline in the crypto market, sustained buying is unlikely in the short term; BTC may be repurchased if it falls to $75,000 or below.

ChainCatcher News, former Ark Invest Head of Crypto and current Placeholder VC partner Chris Burniske posted that he increasingly feels last Friday’s plunge has left the crypto market stagnant in the short term. After such a crash, it’s hard to quickly form sustained buying momentum. This cycle has been disappointing for most people, which may limit action as everyone waits for the market to recover or reach previous historical highs. It’s easy to get caught up in the minutiae of the charts, but if you look at the monthly charts for BTC and ETH, they show we are still in a high range (though cracks have appeared), especially if you are considering taking profits. MSTR is declining, gold is sending warnings, so is the credit market, and stocks will be the last to react. We can always expect a weak rebound, but I have already taken action (remember, cashing out is never all or nothing). I will observe how BTC reacts to $100,000, but if BTC reaches $75,000 or lower, I may become interested in the market again. This bull market is different from previous ones, and the next bear market will also be different.