Bitcoin Faces Foregone Conclusion of Breaching Major Support Zone, Warns Venture Capitalist

Digital asset venture capitalist Chris Burniske, founder of Placeholder Capital, is cautioning his 269,900 followers on X about the potential for Bitcoin (BTC) to dip below a crucial support level. 

Expressing his view that if Bitcoin undergoes consolidation, breaking beneath $40,000 is practically inevitable, Burniske emphasizes that his strategy is accumulation rather than trading. Meanwhile, pseudonymous crypto analyst Inmortal concurs, predicting Bitcoin’s correction and anticipating support at the $37,700 level. Despite Bitcoin’s current trading value of $43,080, reflecting a 5.36% increase in the last 24 hours, concerns about a potential downturn persist. 

Burniske also shares optimism about Solana (SOL), citing its active ecosystem and community-focused airdrops as factors contributing to his bullish outlook on this Ethereum (ETH) competitor. Solana is currently trading at $75.81, reflecting a 9.61% increase in the last 24 hours.

Clever Robot News Desk 20^th December 2023