Saturday, October 23, 2021

Bitcoin still on track to $100K despite growing risks, says strategic investor Lyn Alden

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Strategic investor Lyn Alden is satisfied Bitcoin has nonetheless the potential to achieve $100K within the present bull cycle — regardless of rising uncertainty and rising volatility. 

“We’re seeing numerous froth all through the trade”, she stated, referring to the most recent rally in a lot of meme cash resembling Doge.

“These are sort of warning indicators for the cycle”, she added.

Alden stated that with the bull run slowing down and rising dangers of a correction, it is sensible for some traders to take some cash off the desk and put it into another belongings.

“For individuals who would have bother with drawdowns or durations of volatility, it might probably make sense to rebalance”.

Total, Alden’s place stays bullish given her confidence within the sturdy fundamentals of the Bitcoin community:

“I’ve a fairly excessive conviction on it. And so I am wonderful with sustaining a fairly large place.”

Regardless of a lot of altcoins outperforming Bitcoin this 12 months, she doesn’t suppose Bitcoin is wherever close to shedding its main place within the crypto market. Most altcoins, she identified, didn’t handle to maintain the identical diploma of development all through a number of enterprise cycles.

“ I might be extra involved if I noticed protocols that chip into Bitcoin’s market dominance in a single cycle after which chip much more into it within the subsequent market cycle”.

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