As volatility and uncertainty continue to plague the crypto markets, some industry leaders remain steadfast in their belief in certain projects. One such advocate is Chris Burniske, former president of Ark Invest and current partner at Placeholder VC. On September 15, Burniske took to social media to reiterate his unwavering confidence in TIA, CelestiaOrg’s native altcoin project. He emphasized that TIA has significant potential and that its current market value is grossly underestimated.
Burniske Spoke About Altcoin Celestia
Burniske did not hold back in his criticism of investors who have taken short positions in TIA. He boldly stated, “I am still optimistic about TIA, and those cowards will only take short positions. When CelestiaOrg recovers, I will not be the one who thinks ‘I could have bought TIA for under $5.’ On the contrary, those who mocked it will regret it.” These statements clearly demonstrate Burniske’s strong belief in the Celestia project and its future potential.
To summarize his sentiments: Burniske believes that investors who short TIA are missing out on the token’s fundamental values. He contends that those underestimating TIA do not grasp several key points:
- CelestiaOrg Ecosystem is Operating at Full Capacity: Burniske highlights that the altcoin Celestia is being actively supported by a large and passionate developer community, driving the project forward with various skill sets.
- VCs Not Expected to Make a Big Sell in October: Contrary to the portrayal of venture capitalists (VCs) as “bad-faith” actors, Burniske argues that these investors see the ecosystem’s progress and are unlikely to trigger a major sell-off, even with increased liquidity in October.
- Long-Term Thinking Backers: Burniske notes that TIA’s major backers are focused on the long-term potential of the project, rather than short-term gains. Despite external criticism, these investors remain steadfast in their belief in Celestia’s future.
- Price Movements Encourage Buyers: He believes that positive price developments and reduced market uncertainty will attract potential buyers who have been waiting on the sidelines. More buyers are likely to enter the market as key pressures ease.
TIA’s Market Performance: Bullish Signals
Burniske’s statements are supported by recent market data. According to data from the HTX exchange on September 15, TIA’s value surged by more than 11% in the last 24 hours, with the token temporarily trading at $4.94. This rise has caught the attention of other investors, fueling further speculation about TIA’s potential.
Investors aiming to profit from short positions in the crypto market often predict a decline in an asset’s value. However, Burniske argues that given Celestia and TIA’s current dynamics and ongoing commitment to the project, such a decline is unlikely. On the contrary, the growth potential of the ecosystem and TIA’s future price movements may present a unique long-term investment opportunity, as opposed to short-term profit-oriented strategies.
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