by • Chris Burniske, a venture capitalist, predicts a reversal in the crypto market due to multiple factors.
• He states that the availability of mature infrastructure and DeFi will drive a new product cycle.
• Burniske also believes that tokenization of real-world assets will play an important role in this new “Internet Financial System”.
Investor Calls Market Bottom
Venture capitalist Chris Burniske has called the bottom of the cryptocurrency market and predicts a reversal due to various factors such as the US Federal Reserve action being behind us, lack of credit crunch crisis and equities rallying while crypto lags.
New Crypto Product Cycle
Burniske believes that a new product cycle is forming thanks to mature infrastructure for products to use and decentralized finance (DeFi). This could kick off what he calls an “Internet Financial System” (IFS), which combines elements of DeFi with compliant systems that invite large pools of global capital into open networks.
Tokenization of Real-World Assets
Burniske also sees tokenization of real-world assets (RWAs) playing an integral role in IFS. Tokenizing assets on blockchain can help reduce costs, increase transparency and liquidity, and make it easier to invest in asset classes not previously available to investors.
Social Media Post
The venture capitalist posted on social media about his thoughts on Bitcoin (BTC) and cryptos stating: “BTC at [200-week simple moving average], worst of Fed action is behind us, credit crunch is there but not a crisis, US gov unlikely to default, equities rallying while crypto lags — seems like a prime time for us to reverse — what am I missing?”
Disclaimer
It is important for investors to do their due diligence before making any high-risk investments in Bitcoin or other cryptocurrencies or digital assets as losses incurred are their own responsibility.
