Brutal Bitcoin Bear Markets a Thing of the Past, Says Crypto Investment Giant CEO – But There’s a Catch
The CEO of crypto investment firm Pantera Capital says that brutal Bitcoin bear markets where BTC plummets over 80% are now a thing of the past.
In a new edition of the Blockchain Letter, Dan Morehead says that Bitcoin has entered the post-halving era and no longer follows the extreme volatility of previous market cycles.
“I believe we are done with the four-year halving cycle – and on to the next price era.
We’ve updated charts we’ve used since 2014 – showing the major bull and bear markets. My sense is that we finished the halving cycle in April. We had a period of temporary insanity – where Chinese mining bans were thought to be negative and a few people had blockchain ESG upside down – and now we’re in a new bull market.
I long advocated that as the market becomes broader, more valuable, and more institutional the amplitude of prices…