Dan Morehead, CEO of Pantera Capital, believes the crypto winter will soon end and bitcoin’s price will begin to rise again.
He also claimed that the dominance of the two most important digital assets in terms of market capitalization – BTC and ETH – is waning and people should focus on other crypto projects that are “really important.”
Bitcoin’s Rally Coming Soon
In a recent interview with Bloomberg, Dan Morehead, the top executive, and ardent cryptocurrency supporter predicted that the current crypto winter will soon loosen its grip and be followed by a subsequent bull market.
He reminded us that such ups and downs are common and have occurred several times in the last decade, including the 2018 decline and the subsequent market boom in the coming years.
Brian Armstrong Thinks the Bull Rally is not That Close
Unlike Morehead, he believes this could last longer than 18 months, and businesses should be prepared: “We all hope for a nice recovery within 12 to 18 months, but you have to be prepared for it to last longer than that.”
So that’s how we think of it. And we don’t try to be too cute when it comes to forecasting the future.” It’s worth noting that many companies in the field, including Three Arrows Capital, Celsius, Zipmex, and BlockFi, have had significant problems as a result of the bear market, with some even suspending withdrawals and deposits on their platforms.