Bitcoin still on track to $100K despite growing risks, says strategic investor Lyn Alden
Strategic investor Lyn Alden’s outlook on Bitcoin remains bullish despite growing risks
Strategic investor Lyn Alden is convinced Bitcoin has still the potential to reach $100K in the current bull cycle — despite growing uncertainty and increasing volatility.
“We are seeing a lot of froth throughout the industry”, she said, referring to the latest rally in a number of meme coins such as Doge.
“Those are kind of warning signs for the cycle”, she added.
Alden said that with the bull run slowing down and growing risks of a correction, it makes sense for some investors to take some money off the table and put it into some other assets.
“For people who would have trouble 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 have a pretty high conviction on it. And so I’m fine with maintaining a pretty large position.”
Despite a number of altcoins outperforming Bitcoin this year, she doesn’t think Bitcoin is anywhere near losing its leading position in the crypto market. Most altcoins, she pointed out, didn’t manage to sustain the same degree of growth throughout multiple business cycles.
“ I’d be more concerned if I saw protocols that chip into Bitcoin’s market dominance in one cycle and then chip even more into it in the next market cycle”.
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Author: Marco Castrovilli