A prominent figure who previously predicted that the cryptocurrency market would reach its lowest point in 2022 has now shared his latest forecast, which has proven to be accurate so far. As the popularity of individuals who make correct predictions in the past continues to grow, former analyst at Ark Invest, Chris Burniske, shares a similar view to other analysts regarding the bull season. Here are the details.
Crypto Comment from an Analyst Who Predicted the Bottom
Burniske, currently a partner at Placeholder Capital and former analyst at ARK Invest, says that a new bull cycle supported by a series of new projects and catalysts is emerging. Venture capitalist Chris Burniske previously argued that the bottom of the cryptocurrency market occurred with the FTX incident in 2022. Subsequently, the leading cryptocurrency increased by approximately 100% from the bottom.
In his recent market evaluation, he stated the following:
“We thought 2013 was crazy until we saw 2017.
We thought 2017 was crazy until we saw 2021.
We thought 2021 was crazy until we see 2025.
Regulatory trends are changing, new products are being launched, the internet financial system (IFS) is maturing, and NFTs are becoming widespread. BlackRock CEO Larry Fink is on the rise, and interest rates will fall again, leading to a rise in risk assets.”
The analyst’s expectation for the bull market points to the year 2025.
The Future of Cryptocurrencies
Chris predicts that most crypto projects will consolidate into a few layer1 solutions that many blockchains rely on for security.
“In the future, everything will become a recovery that benefits from the security of a handful of multi-trillion dollar foundational layers. Consolidation of a layer (infrastructure) leads to the solidification and value creation of the winners, while eradicating the value of the long tail of infrastructure.
VC players who have played the infrastructure game for a long time will rightfully win. Due to this consolidation, the cost of block space service will decrease, leading to expansion and experimentation in the application layer. This realization could trigger a cycle.”
Earlier this year, Burniske referred to Solana as one of the biggest opportunities for the next bull market cycle.
“If I had to choose a contested and attention-worthy ecosystem, and its value was low due to the contestation, it would be Solana.”
At that time, the famous analyst compared Solana to an aircraft carrier.
