Pantera Capital CEO Dan Morehead warns the stock market this year will be chaotic, predicting the crypto market is about to have a big bull run.
In a post on the Panteracapital Blog, Dan Morehead said the price of Bitcoin will get higher and higher as institutions around the world tend to accumulate the cryptocurrency.
“Many large institutions are buying Bitcoin so much, they are hoarding it for the future, so the Bitcoin market value will get higher and higher.”
Morehead says the recent bear market has taken a toll on his hedge funds.
Been in the Crypto market for many years and have experienced horrible pump-dumps. “In the future, we may not see x100 bull runs,” Morehead said.
According to him, the market in the future will be much harsher than before, because the market will be affected by many external factors, such as tighter regulations or unstable world politics. . However, he remains optimistic about the future for cryptocurrencies.
In anticipation of the upcoming market, Morehead suggested that the current bear market is over and Bitcoin has entered a new bull cycle.
“Next 6 to 12 months…it is likely that the crypto market will see a major bull run as investors flee the stock, bond and real estate markets.”
Pantera Capital is an American hedge fund specializing in cryptocurrencies. It is one of the largest crypto hedge funds in the world as of now. In 2013, Pantera Capital launched the first Bitcoin-focused investment fund in the US.