Dan Morehead believes that Bitcoin’s next bull market is on its way

Posted on

The cryptocurrency market is currently experiencing a bear cycle, but the Pantera Capital CEO is confident that the next bull run is on its way.

Dan Morehead, CEO of Pantera Capital, believes the bear market is coming to an end. He made it known during a interview with bloomberg earlier this week.

According to Morehead, the next bitcoin bull run is on the way. He told Bloomberg that;

“We have gone through three big bear cycles. I really think we hit a low in June, and we are in the next bull market. It could be rocky and it might take some time, but I Looks like we are in the next phase of the rally.

He noted that volatility is normal in the cryptocurrency space and has happened several times over the past decade, including a fall in 2018 and a steady market rally over the next few years.

While discussing the future price of bitcoin, the Pantera Capital boss predicted that the leading cryptocurrency would continue to grow at around 2.5x per year.

However, Morehead believes that the cryptocurrency market has changed in recent times and no longer revolves around Bitcoin and Ether.

He pointed out that many other worthwhile projects could develop at a much faster rate than bitcoin in the coming years. he said;

“Bitcoin isn’t everything anymore. There was a time when bitcoin was 100% of the market, and for a while, bitcoin and ethereum were essentially everything. Now there are many, many important projects, and you’ve seen bitcoin reversing a bit.” Have seen, but the real story is there are projects other than bitcoin and ethereum that rally higher.

While Morehead believes a bull run is imminent, Coinbase CEO Brian Armstrong believes a bear market will be around for a year or so. he said;

“We all expect it to be 12 to 18 months and a good recovery, but you obviously have to plan for longer than that. And that’s how we think about it. And we’re very much about predicting the future. Don’t try to be cute.”

Prices of most cryptocurrencies are down more than 65% from their all-time highs, with total market capitalization now below $1 trillion.

Leave a Reply

Your email address will not be published. Required fields are marked *