Dan Morehead, CEO of Pantera Capitalincrease in interest rates bitcoin He thinks it won’t “really be that bad” for (BTC).
as known US Federal Reserveplans to raise interest rates to curb inflation, which reached 7.5% in January.
Pantera Capital CEO Dan Morehead claimed that this increase in interest rates will not really be as bad as it is thought for Bitcoin (BTC), the pioneer of the crypto industry. He stated that Blockchain products are more advantageous when compared to other asset classes.
Now, investors are concerned that any policy change in light of these developments will cause a drop in cryptocurrency prices. That’s why every step the FED takes is of great importance for the crypto community.
“Cryptos Will Leave the Traditional Economy”
In addition to all of this, Joey Krug, Pantera’s chief investment officer, predicts that crypto markets will diverge from traditional ones in the next few weeks.
Krug also added that as conventional macro markets begin to decline, crypto will start to trade around about this predicted divergence before it starts trading on its own. over a period of 70 days indicated that it would tend to correlate with them.
In other words, according to Krug’s opinion, although Bitcoin exhibits a parallel movement with the global financial markets at first, this situation will be reversed in about 2 months and there will be a positive divergence.
Bitcoin And Ethereum Price Trend
The crypto market, which collapsed on January 21 and the total market value of more than $ 230 billion was wiped out, is again in the red as of now. BTC It is trading at $40,800, down 6% in the last 24 hours. Ethereum On the other hand, it is trading at $ 2,930 as of the moment, with a decrease of 6%.