According to the forecast of the founder and manager of the American hedge fund Pantera Capital, a strong bullish trend will occur in the cryptocurrency market in the next 18-24 months.
Dan Morehead said that the company has already experienced “three crazy cycles” – rapid rises and falls of 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 investment in private markets, says the founder of Pantera Capital. With the stock market now back at record highs, institutions may once again turn their attention to 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 for 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.