Strategic investor Lyn Alden is convinced that Bitcoin still has the potential to reach $ 100K in the current bullish cycle, despite growing uncertainty and growing volatility.
“We’re seeing a lot of foam all over the industry,” he said, referring to the latest surge in several meme coins like Doge.
“These are kind of warning signs for the cycle,” he added.
Alden said that with the slowdown in the bull run and the growing risks of a correction, it makes sense for some investors to pull some money off the table and put it into other assets.
“For people who would have problems with reductions or periods of volatility, it may make sense to rebalance.”
Overall, Alden’s position remains optimistic given his confidence in the solid foundations of the Bitcoin network:
“I have a pretty high conviction in that regard. And that’s why I agree to hold a pretty big position.”
Although several altcoins outperformed Bitcoin this year, he doesn’t believe Bitcoin is even close to losing its leading position in the digital currency market. Most alternative currencies, he noted, failed to maintain the same degree of growth over multiple trading cycles.
“I would be more concerned if you saw protocols that influence the dominance of the Bitcoin market in one cycle and then do so even more in the next market cycle.”
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