U.Today – Over the past few weeks, the cryptocurrency market has seen a major decline, losing 12% from its weekly high to $52,550. This pullback led to a 3.71% drop in the total cryptocurrency market capitalization, which is about $73 billion according to the TOTAL index. The fall in prices has led to extremely negative market sentiment, which appears to be at its lowest point in months.
Despite the gloomy outlook, noted crypto expert and partner at Placeholder VC Chris Burniske shared a bullish outlook.
He noted that even though Bitcoin is going through a period of consolidation, there are signs of strength in the broader blockchain projects. Even though the market is down, blockchains are still moving into the broader social and technological landscape, the expert noted.
Burniske’s optimistic view is not new. He was right last year when the price went back up after falling to $9. This made the project more reliable when it actually came back from the dead.
Taurus unlocks
Now an expert suggests there could be good news on the horizon in the next few weeks. He thinks unlocking some big signs and conferences can change the mood once again.
It is worth noting that the cryptocurrency market is gearing up for several major unlocking events that could affect price movements. XAI (6.28%, $6.44M) and September 9 GMT (3.68%, $9.79M) followed by APT (2.23%, $66.39M), ICP (0.51%, $17.04M) and MOCA (2.01%, $17.12M on September 11).
While market sentiment may currently feel like “Satoshi is dead,” as Burniske puts it, upcoming events and continued blockchain progress signal a potential upside on the horizon.
This article was originally published on U.Today
