Strategic investor Lyn Alden believes that Bitcoin still has the potential to hit $ 100,000 in the current bull cycle – despite growing uncertainty and volatility.
“We’re seeing a lot of foam across the industry,” she said, referring to the recent rally in a range of meme coins like Doge.
“Those are warning signs for the cycle,” she added.
Alden said that given the slowdown in the bull run and the growing risk of a correction, it made sense for some investors to take some money off the table and invest it in other assets.
“For people who would have problems with drawdowns or periods of volatility, it can make sense to rebalance.”
Overall, Alden’s position remains bullish given her confidence in the strong fundamentals of the Bitcoin network:
“I’m pretty sure of it. And so I can hold a pretty big position. “
Despite a string of altcoins outperforming Bitcoin this year, she doesn’t think Bitcoin will anywhere near losing its leading position in the crypto market. She pointed out that most altcoins could not achieve the same growth over multiple business cycles.
“I would be more concerned to see protocols that add to bitcoin’s dominance one cycle and even more to it in the next cycle.”
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