The blockchain asset, which represents Bitcoin, has bottomed out, according to Pantera Capital CEO Dan Morehead.
In posts with the title “The Seventh Bull Cycle” posted on February 8th, The CEO of the famous crypto investment fund Pantera Capital has made a comment that the price of the Bitcoin king coin has bottomed and is gradually accumulating.
At the time of update, Bitcoin is trading around $21,616, down about 1.2% over the past 24 hours. But looking at the top 1 coin in the cryptocurrency industry, it has increased by about 31% year-to-date.
Sharing with the media, Pantera CEO Dan Morehead said:
“Pantera has been through 10 years of Bitcoin cycles and I have been in the market for 35 years of similar cycles. I believe blockchain assets have hit a low and we are in for the next bull season, regardless of sensitive interest rate adjustments.”
Above Bloomberg TVthe Greg King Osprey Foundation has share a similar point of view, each cycle is slightly less than the previous cycle. If that is the case this time, we seem to have bottomed out.
According to a representative of King, the price will not necessarily increase in a straight line from this point on. According to the theory of the traditional financial markets, the market is trending up, although the negative sentiment still prevails.
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