Bitcoin Price Prediction as Pantera Capital CEO Says Next Bull Market Cycle Has Already Started – What Does He Know?
In the past few years, the cryptocurrency market has grown at a rate that has never been seen before. Bitcoin, the largest cryptocurrency by market capitalization, has led the way. As Bitcoin's price continues to trade sideways, investors and analysts closely monitor the market to predict where the price will go next.
In this context, the CEO of Pantera Capital, Dan Morehead, has made bullish predictions about the cryptocurrency market. In this update, we will discuss Morehead's remarks and analyze what they could mean for Bitcoin's price in the future.
Dan Morehead, the CEO of Pantera Capital, recently stated that Bitcoin has already entered its next bull market cycle, despite some market apathy. Morehead, the CEO of Pantera Capital said that Bitcoin is already in its seventh bull cycle and that investors shouldn't be scared off by the drop in the crypto market after FTX.
In the company's Blockchain Letter, he anticipated that 2023 would be a year of restoring faith in the crypto market and acknowledged that it had experienced lows during this cycle.
Morehead believes that it's time to flip crypto bullish despite market apathy. He said, "Pantera has been through ten years of Bitcoin cycles, and I have traded through 35 years of similar cycles."
According to Morehead, the crypto market, including Bitcoin, has already hit its lowest point regardless of how the interest rates fluctuate. He firmly believes that blockchain assets are in the next bull market cycle.
Morehead further supports his argument by stating that Bitcoin's recent decline from its all-time high falls within historical norms. He predicts that Bitcoin will surge by 136% during the upcoming seventh bull cycle, leading to another all-time high.
Morehead used
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