Pantera Capital CEO Dan Morehead Confirms Bullish Outlook for BTC
Dan Morehead, CEO of hedge fund Pantera Capital, said in the spring of 2021 that Bitcoin would soar to $200,000. According to him, the value of BTC will grow as large capital enters it.
He has this week confirmed his bullish outlook. He believes that the bearish phase in the crypto sphere ended in November last year. The market was abandoned by speculators and investors who succumbed to panic. Already in January 2023, BTC resumed its offensive and made progress.
Morehead has said in a letter to investors that the negative trend dominated the market for 376 days, the second longest period of BTC depreciation in the history of the digital currency.
He has explained:
“I think that in the cryptocurrency market we have passed all the lows within the current cycle. Now we are gradually returning to the bullish trend. And it doesn’t matter how other risky assets react.”
