• Pantera Capital CEO Dan Morehead recently stated that Bitcoin has already entered its next bull market cycle.
• He predicted that 2023 would be a year of restoring faith in the crypto market and acknowledged that it had experienced lows during this cycle.
• Morehead believes that Bitcoin’s recent decline from its all-time high falls within historical norms and predicts that Bitcoin will surge by 136% during the upcoming seventh bull cycle.

Pantera Capital CEO Predicts Next Bull Cycle for Bitcoin

The CEO of Pantera Capital, Dan Morehead, recently made bullish predictions about the cryptocurrency market. He believes that Bitcoin has already entered its next bull market cycle despite some market apathy and anticipates that 2023 will be a year of restoring faith in the crypto market.

Lowest Point Reached

Morehead firmly believes that blockchain assets are in their next bull market cycle and have hit their lowest point regardless of how interest rates fluctuate. He further states that Bitcoin’s recent decline from its all-time high falls within historical norms.

Predictions Based on Data

Using data to support his argument, Morehead predicts that Bitcoin will surge by 136% during the upcoming seventh bull cycle, leading to another all-time high. He also acknowledges the fact that the crypto market has experienced lows during this cycle but remains optimistic about DeFi due to increasing institutional investment and innovation.

Investing During Market Apathy

Despite low investor confidence in cryptocurrency markets, Morehead encourages investors not to be scared off by drops or swings in prices since they are normal within historical context. He points out that Pantera has been through 10 years of Bitcoin cycles and he himself has traded through 35 years of similar cycles so there is no need for panic or fear when it comes to investing in cryptocurrencies like Bitcoin.

What Does This Mean?

By predicting a new bull run for cryptocurrency markets, particularly for the leading coin by market capitalization -Bitcoin -Pantera Capital’s CEO Dan Morehead is giving investors hope for a brighter future for cryptocurrency investments. His predictions are based on data rather than speculation so investors may want to take into account his views when deciding whether or not to invest in cryptocurrencies such as Bitcoin over other more traditional asset classes like stocks or bonds.