Placeholder Partner: We have entered the crypto bull market for two years, and SOL has risen more than 30 times from the bottom

Chris Burniske, partner of Placeholder, said in a post on X: "If your friends connect you to Bitcoin, Ethereum or any cryptocurrency, you may be asked what to do. It's tricky to guide someone from our current level (BTC is about $100,000), especially if they are an inexperienced investor. We have learned some lessons from more than 10 years of observation. Make sure every action they take is their own responsibility. You may have more knowledge or experience, but that doesn't mean you are absolutely right. No one has any exact understanding of the market. The only thing you can be sure of is that those who say they "know for sure" are lying. Try to explain to them what stage of the cycle we are currently in. For me, we have been in this bull market for 2 years (the bottom is November/December 2022). Since the bottom 2 years ago, BTC has risen more than 6 times and ETH has risen 4 times. 1x, SOL up over 30x. Personally, if they are new, I tend to have a ratio of BTC ETH and SOL (50/25/25%), and everything else is at their own risk. While ETFs and potential sovereign purchases may mean that BTC will not experience the brutal bear market it has experienced in the future, every bull will come up with various reasons to explain why we will go higher, or why we will not experience a bear market. The ‘super cycle’ is undoubtedly a collective delusion. I can see reasons for repeating cycles (peaking in Q4 2025), as well as reasons for extending cycles and breaking away from the 4-year pattern. Although we may consolidate after the US inauguration, I don’t believe the talk of shortening cycles. That said, structurally, anything that grows 100x quickly is prone to a crash of at least 80-90% at some point because too many people are sitting on profits. Therefore, SOL going from $8 to $800 in this cycle may mean that it will be in the future (such as 2027) The bottom is $80-160. So if a newbie buys and holds on to $240, they will lose money by the time the next bear market comes. It’s hard for people to realize this in the heat of the bull market, but since you’ve been there, you know it, and now you can teach them. ”