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VC Coin’s Inability to Recover?
Current Market Environment
As the cryptocurrency market remains stagnant, bearish sentiments have begun to emerge within the community, particularly regarding the VC coin, which has been heavily criticized during this bull market. Recently, a user posted on X stating that VC coins have no natural buyers and that the market lacks the liquidity to support its high market value: “I can’t see how venture capitalists won’t be completely crushed in this cycle—whatever you want to call it. Nobody is buying these tokens; the masks have come off. I can’t even see any exceptional projects that could yield a hundredfold return to support these funds. It’s all zero. These ethereal things have no natural buyers at all.”
In response, Dragonfly Managing Partner Haseeb Qureshi disagreed and posted on X, stating that he has been in the cryptocurrency space for eight years and has heard such nonsense countless times, with many people voicing similar criticisms during 2018/2019. Ultimately, Haseeb Qureshi remarked: “If you dare, prove it with action; if you think it’s not feasible, short the market. See you in three years, and we’ll see who’s right.”
Currently, the cryptocurrency market is influenced by the economic environment and remains volatile. As of the writing of this article, Bitcoin hovered around the $83,500 level, up 1.7% in the last 24 hours. Other major cryptocurrencies such as ETH, XRP, and Solana have also seen slight increases.
According to CNN reports, Trump is expected to announce several “significant tariff” plans on April 2, also known as “Liberation Day.” Many analysts believe that the impending equivalent tariffs may trigger a chain reaction, potentially sparking a global trade war. Presto Research analyst Min Jung stated that the market is currently in a wait-and-see mode, as specific details regarding the tariffs have yet to be disclosed. Min Jung remarked: “Market sentiment is somewhat mixed, although some investors believe the impact may not be as severe as initially feared and view the recent downturn as a potential buying opportunity. However, many traders still choose to wait until the situation becomes clearer. The next direction of the market will largely depend on the tone and content of the actual announcements.”
Currently, hopes for a market rebound are pinned on the second quarter, as the Federal Reserve may lower interest rates in June. Additionally, the Trump administration’s pro-cryptocurrency policies are expected to gradually take effect during this period, showcasing tangible results.
