Dan Morehead, founder and CEO of leading crypto asset fund Pantera Capital, bitcoin He shared his predictions that the price will rise and excited the community.
Sharing his views in an interview with the Bloomberg channel, Morehead thinks that Bitcoin has already reached a bottom price in June and is now at the peak of a bull market as it has surpassed the “average period” of a bear cycle.
“We’ve been doing this for 10 years and you know it. We went through three major bear market cycles and they all lasted an average of 220 days. And that’s exactly what we have in the end market.
I think we reached the lowest level, a bottom, in June. We’ll see. And then we move on to the next bull market. And it can be rocky and take a while to go. But I think we’ve moved on to the next leg of a rally.”
Koinfinans.com As we reported, we were asked to announce the year-end and five-year price target for Bitcoin. Pantera Capital Its CEO thinks that the flagship crypto asset will maintain an average annual growth rate of 150% “for a while”.
“As a proxy for the industry, Bitcoin has grown an average of 2.5x per year for eleven years. So that’s always my standard forecast, it’s probably going to continue at the same growth rate for a while.”
Dan MoreheadHe noted that crypto assets other than Bitcoin and Ethereum (ETH) are also performing quite well:
“Bitcoin is not everything anymore. There was a time when Bitcoin was 100% of the market, and for a time, Bitcoin and Ethereum were basically everything. Now there are very important projects. You’ve seen Bitcoin rally a bit, but the true story is that projects other than Bitcoin and Ethereum are rallying more.”
Pantera Capital is currently valued at around $4.5 billion in assets under management.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.