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Crypto & Stocks 'Decoupling' Prediction Flops but There's Still Hope

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It appears that some of the high-profile crypto fund managers have less of a crystal ball than some may want to believe.Back in February, Joey Krug and Dan Morehead, the two co-chief investment officers at crypto hedge fund Pantera Capital, predicted that crypto markets would “decouple” from traditional markets in the coming weeks.“Our view is it’s going to decouple over the next number of weeks and crypto will sort of trade independently again.

It’s my personal view that USD 2,200 ETH was likely the bottom,” Joey Krug said at the time.At the same time, Dan Morehead also had a bullish outlook on digital assets, even in the face of looming interest rate hikes.“I think when all’s said and done, investors will be given a choice: they have to invest in something, and if rates are rising, blockchain is going to be the most relatively attractive,” Morehead said.Now, in mid-May, it seems that the Pantera executives were wrong this time.As of May 17, bitcoin (BTC), the largest cryptoasset, is down by well over 50% from its all-time high in November last year.

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