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Chris Burniske Profile picture
@cburniske
Aug 31, 2020 • 4 tweets • 1 min read • Read on X
Seeing enough commentary about #bitcoin being a boring asset that it feels about ready to melt faces.
Meanwhile, looking like it wants to keep running.

2020 has been the most mature period of fundamentals-driven price appreciation that has had against in its short life.

(Compare 2020 YTD in below chart to vertical green walls of 2016, 2017, and early 2018). Image
is only now nearing its 200 week SMA (yellow line). Yes, we were once that oversold 🙃 Looking like the biggest breakouts are still yet to come. Image
As this expansion cycle unfolds, and will continue to feed into each other.

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More from @cburniske

Chris Burniske Profile picture
Sep 26
If you've been paying attention, as I know @ZoomerOracle has, you'll notice "shiny new coins" have been shining once again.
Market participants learn a lesson in one market environment, and then try to apply it to all market environments, instead of thinking critically about what works in a bull, versus what works in a bear.
The tragedy in this "momentum learning" is that we go from "bull to bear to bull to bear," and so the lessons of a bull get you rekt in a bear, while the lessons of a bear get you rekt in a bull.

One needs to layer the lessons and think critically.
Read 8 tweets
Chris Burniske Profile picture
Sep 19
Bottom trolls in disbelief.

If you were shook, internalize the lesson that bears have the most power near the bottom.

While social momentum & validation will encourage bearishness near the bottom, it pays the least to be bearish there, and pays the most to be bullish.
If you're publicly bullish through a downtrend, traders and reply-guys will come in with smart-ass comments about market timing not being perfect.

But the truth remains, it pays to remain bullish and active through bottoms as a long-term investor.

Use the ridicule as fuel.
When we near tops, all this behavior reverses - social momentum & validation will encourage bullishness, when it pays the least to be bullish.

Being publicly bearish when everyone is drunk off profits is a unique kind of torture -- not sure I feel like doing that again, so...
Read 4 tweets
Chris Burniske Profile picture
Sep 15
1/ Still longing $TIA while haters spinelessly pile onto the downside momentum. When @CelestiaOrg recovers, it's not me that will be haunted by the thought, "Instead of jeering, I could have been buying $TIA < $5."
2/ $TIA shorts paying up to 380% annualized to be short after an 80%+ drawdown - you can't make this stuff up 😂 coinglass.com/currencies/TIA
Image
3/ Everyone and their mother is fixated on the "big $TIA unlock" in October. Paid groups and momentum bottom trolls are drooling with delight, claiming $TIA will get crushed when the "evil VCs" are given liquidity, hence piling onto these expensive shorts token.unlocks.app/celestia
Read 11 tweets
Chris Burniske Profile picture
Feb 5
1) You are responsible for every investing decision you make. If you blindly follow what other people say, with no opinion or critical thinking of your own, you're playing a fool's game. Not only will you not hone your practice, but you’ll likely lose money in the coming yrs 🧵
2) I see an increasing amount of misinterpretation in my replies, and many long-time CT personalities showing signs of exhaustion (public or voiced 1:1), which tells me there's a new bumper crop of Xeeters amongst us...

A lot of the misinterpretation comes from not accepting what *you* are responsible for, or misunderstanding the the high-level lay of the land. Start with: the less entitled you are, the more you'll learn.
3) There are many ways to Invest (long-term) or Trade (short-term) & the key is to know which assets, style, and time frames you are choosing -- refine that practice over time, keeping in mind assets, style & time.
Read 11 tweets
Chris Burniske Profile picture
Jan 5
For those asking for a market update from me, I don't have much of an opinion. I'm not a trader, but a long-term investor, and move glacially. Have learned when you don't have a strong view, it's best to do little 🧵
Long-tail names have already gone higher than I expected, and it seems $BTC ETF approval is imminent. Can argue that ETF approval brings new flows (bullish), or is a sell-the-news event (bearish).

We'll see ¯\_(ツ)_/¯
This I know: crypto is massively volatile, and the moves many assets have had are parabolic. At some point, we'll have a nasty reset, and how low that reset goes will determine my action then (will still be part of the uptrend from the Q4 2022 bottom). Until then...
Read 6 tweets
Chris Burniske Profile picture
Nov 21, 2023
More is not always more. #Ethereum is here to stay, but bridging UX, transaction cost, and L2 interop+centralization problems need to be discussed & addressed with vigor, as opposed to presuming to have won the crown of the next Internet.
This is more a warning to ETH-influencers, than it is to ETH-builders, as the convos I'm having with Ethereum builders are increasingly including concerns around coordination complexity and decision-making complacency.
I've watched Bitcoin go through a full circle arc of:

Innovation ➡️ Complacency ➡️ Innovation

Ethereum may have to go through the same arc.
Read 7 tweets

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