Share this article
Bitcoin Could Fall Back to Mid-$20K Area: Chris Burniske
The former crypto lead at Cathie Wood's Ark Invest remains bullish over the longer term.
Updated Mar 8, 2024, 8:33 p.m. Published Jan 26, 2024, 4:46 p.m.
The local bottom for bitcoin has yet to be hit, said Chris Burniske, partner at venture capital firm Placeholder and former crypto lead at Ark Invest.
He sees the price dropping to at least the $30,000-$36,000 range and wouldn't be surprised if the mid-high $20,000 area were tested prior to an eventual move towards a new all-time high.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
"As always, patience is your friend," said Burniske. "The path to get there will be volatile – expect fakeouts – and will take months to play out."
While the long-term trend "remains robust," he added, "we also just saw many of our first parabolas of the cycle, and they're now breaking. Macro looks precarious on a number of levels. New product innovations are close, but not quite there yet ... things still feel insular."
Prior to a 5% rally on Friday, bitcoin had tumbled nearly 20% to under $40,000 following the Jan. 11 opening for trade of the spot bitcoin ETFs. The price stood at $41,700 at press time.
"Never said I'm majorly de-risking, more just counting my bullets and sharpening my blade," concluded Burniske.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Doha Bank Issues $150M Digital Bond Using Euroclear’s DLT Platform
The deal achieved T+0 settlement on a permissioned distributed ledger rather than a public blockchain, reflecting a growing regional shift toward regulated digital bond infrastructure.
What to know:
- Doha Bank completed a $150 million digital bond using Euroclear’s distributed ledger infrastructure, highlighting a preference for regulated DLT systems over public blockchains for institutional tokenized debt.
- The bond was listed on the London Stock Exchange’s International Securities Market, achieving same-day settlement through a permissioned DLT platform.
- The transaction is part of a regional effort to modernize capital markets infrastructure by integrating DLT into existing systems rather than creating new crypto-native systems.
Top Stories
