Venture capital investors in cryptocurrencies say it is still early in this cycle, "sell when people are partying"
At the Emergence conference in Prague, several venture capital investors in #cryptocurrencies commented that it is still early in the market's bullish cycle, suggesting that retail participation levels have not yet reached those seen in 2021.
Despite the cryptocurrency market being on the rise, with Bitcoin's price surpassing $100,000, investors like Viktor Fischer of Rockaway X and Matthew Graham of Ryze Labs indicated that we have not yet reached the peak of the cycle.
Fischer emphasized that, following Warren Buffett's advice, the time to sell will likely be when there is an excess of euphoria in the market, when people are "partying" and buying luxury items, as in 2021 when Solana's price reached $250. Although there are now perceived positive signals, such as support from politicians and figures like Jerome Powell stating that Bitcoin is digital gold, investors believe that retail enthusiasm has not yet reached 2021 levels, suggesting that this bullish cycle could be longer than previous ones.
"However, I still don’t see retail sales happening," Fischer continued. "That was in 2021. My friends are still not calling me to ask if they should buy Cardano. We have not reached that point yet. That’s why I think this bullish market will be a bit longer than the others."