Pantera Capital CEO predicted massive growth of the crypto market
According to Dan Morehead, investors will dispose of stocks, bonds, and real estate this year
14.04.2022 - 13:45
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What’s new? The head of an American hedge fund Pantera Capital, Dan Morehead, believes that investors will dispose of bonds, stocks, and real estate in 2022 as the massive rise in cryptocurrency values is coming. In his view, the price of bitcoin will be less volatile in the future. Morehead argues that an increase in the institutional ownership of BTC and an increase in its market value will mitigate the first crypto asset’s price fluctuations.
What else does Morehead say? He claims that the “bear market” is over and bitcoin is ready to move on to a new growth phase.
“The next 6-12 months are likely to see a massive rally as investors flee stock, bond, and real estate markets – for blockchain.”
The CEO also notes that in early April, BTC was 56% below its 11-year exponential growth trend level, which can be described as a “rare” level of cheapness for the bitcoin market.
What had happened before? Celsius Network CEO Alex Mashinsky recommended selling stocks and buying bitcoin in the coming recession in the United States.
As of April 14, bitcoin is trading at $41 000, and the market capitalization is $779,8 billion, according to CoinGecko.
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