In a recent interview with CNBC, the Pantera Capital founder appeared unfazed by the recent crash in the cryptocurrency markets, stating “We’re certainly aware it’s a very speculative market,” adding, “It’s volatile on the upside. It can be volatile on the downside.”
Mr. Morehead predicts that the price of bitcoin will begin to recover in coming weeks, stating, “Typically, [bitcoin] has had on average a 71-day bear market, and we’re 52 days into this. It seems like another couple of weeks and everything will be normal and [bitcoin] can start growing back up again.” Mr. Morehead also noted that “We’ve had a 64% fall from its peak to the trough a couple of days ago, and that’s actually exactly the average decline in the bitcoin markets over the last seven bear market cycles.”
Pantera Capital was founded in 2003 and launched its first cryptocurrency fund a decade later. Pantera Capital is invested in a number of leading cryptocurrency ventures, including Bitstamp, Korbit, Xapo, and Bitpesa.
https://news.bitcoin.com/bitcoin-is-under-owned-among-institutional-investors-says-dan-morehead/
