Chris Burniske, a venture capitalist, is making a sudden shift in his perspective on Bitcoin (BTC) and cryptocurrency, indicating that the markets are on the brink of reaching new heights. The Placeholder partner shared with his 291,800 followers on the social media platform X that he has been overtaken by unwavering optimism. Burniske, who accurately predicted the digital asset’s low point in 2022, had turned bearish on crypto back in February just before BTC reached its record high of approximately $73,000. However, following a period of consolidation, the investor now believes that BTC is following a similar pattern to its late 2020 price movement when Bitcoin struggled to surpass its previous all-time high of $20,000. In his words, “When we reflect back in a few years, we will notice the remarkable resemblance between Bitcoin’s testing, consolidation, and breakthrough into price discovery of past cycle all-time highs of $20,000 and $69,000 – it’s almost poetic. Resistance to the algorithm is futile.” Burniske’s change in perspective coincides with Bitcoin trading above $68,000 over the past week. Rekt Capital, a pseudonymous analyst, shared with his 476,200 followers on the social media platform X that Bitcoin seems to be forming a bullish continuation pattern after revisiting an old resistance level and transforming it into support. “Bitcoin has achieved a significant technical milestone by converting a key area of old resistance into new crucial support. Bitcoin has now established a re-accumulation zone at these levels, resembling a Bull Flag trend continuation pattern.” At the time of writing, Bitcoin is being traded at $68,148. Stay updated with email alerts by subscribing. Keep track of price action by following us on X, Facebook, and Telegram. Explore The Daily Hodl Mix for more news. Disclaimer: The opinions expressed on The Daily Hodl are not financial advice. Investors are advised to conduct thorough research before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that all transfers and trades are at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor do we provide investment advice. Note that The Daily Hodl engages in affiliate marketing. Image Source: Rekt Capital/X.