Published On: Sun, Feb 11th, 2018

Pantera Capital CEO: Bitcoin Bear Market About to Turn Bullish

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Bitcoin’s bear market got you feeling blue? Well, cheer up! Dan Morehead, the founder and CEO of Pantera Capital, thinks the best is yet to come.
The Bear Cycle Is Coming to an End
Dan Morehead, the founder and CEO of Pantera Capital, went on CNBC’s Fast Money earlier this week, where he made some seriously bullish statements about Bitcoin and the cryptocurrency market as a whole.

Despite Bitcoin’s recent and sharp correction, Morehead thinks everything is ultimately right on track. Using history as an indicator, he claims Bitcoin’s severe drop in price is actually totally normal. Additionally, he predicts Bitcoin will start rising in the next couple of weeks, explaining:
We’re certainly aware that it’s a very speculative market. It’s volatile on the upside, but it can be volatile on the downside. But we’ve had a 64 percent fall from its peak to the trough a couple of days ago and that’s actually exactly the average decline in the Bitcoin market over the last seven bear-market cycles. So—the past doesn’t predict the future—but it seems like …

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