Vital financial backer Lyn Alden’s point of view toward Bitcoin stays bullish in spite of developing dangers.
Key financial backer Lyn Alden is persuaded Bitcoin has still the possibility to arrive at $100K in the current bull cycle — regardless of developing vulnerability and expanding instability.
“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”.
