Chris Burniske, a partner at Placeholder, wrote in an X post: "People won't like me saying this, but if $10 trillion is a round number target, then we're likely to miss it this cycle.
This is a good slogan for bouncing from the bottom of the market, and will prove the right direction this cycle, but will eventually be surpassed. That said, as we enter a period of heightened frenzy, bloated dreams, and bull market genius, it's important to stay realistic.
For example, 2021 is full of predictions of $100,000 for Bitcoin and $10,000 for Ethereum, but at that time we peaked around $70,000 and $5,000 respectively, and Bitcoin is only just now hitting that target - a lesson learned.
Also, if you buy below $1 trillion and aim for $10 trillion, I think it makes sense to take profits in tranches from $3 trillion to $10 trillion. No one loses money because of profits, and the potential gains missed by taking profits on the road are just psychological pain. "
Placeholder Partner: This cycle may not reach the $10 trillion target
2024-12-06 00:48:05
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