Dan Morehead said that the company has already experienced “three crazy cycles” – rapid rises and falls in the crypto market. Now the digital asset market is at the beginning of the fourth big cycle, the businessman is sure.
The 2022 stock market crash had a huge impact on large companies, which began to refuse to invest in private markets, says the founder of Pantera Capital. With the stock market now back at record highs, institutions may once again be turning their attention to the private markets. This is another prerequisite for the rise of cryptocurrencies in the next two years.
“It is expected that the double reduction in the reward to miners will occur at the end of April 2024. Investments in Bitcoin by large legal entities are growing after the appearance of spot Bitcoin ETFs in the United States. We believe the combination of these positive factors will provide a strong tailwind for the next bull rally. In addition, legislators are seeking to clarify the regulation of cryptocurrencies,” says Dan Morehead.
Earlier, the head of Pantera Capital said that the collapse of the FTX crypto exchange does not mean the failure of the blockchain and Bitcoin, since there are many regulated trading platforms in the industry.
Source: Bits
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