Bitcoin (BTC) is beginning its “seventh bull cycle,” and investors should not be scared of crypto post-FTX, Pantera Capital believes.
In its latest “Blockchain Letter” on Feb. 8, the asset management firm’s CEO, Dan Morehead, predicted that 2023 would be a “year for rebuilding trust.”
Morehead: Crypto assets have “seen the lows” this cycle
With BTC price action retracing slightly after gaining 40% in January, some market participants still insist that new macro lows are due across crypto assets.
While the timing for such a scenario varies, consensus remains absent when it comes to how the market will rebound.
For Morehead, however, the time to flip bullish on crypto is already here.
“Pantera has been through ten years of Bitcoin cycles and I’ve traded through 35 years of similar cycles,” he noted.
“I believe that blockchain assets have seen the lows and that we’re in the next bull market cycle – regardless of what happens in the interest-rate-sensitive asset classes.”
That perspective differs from the majority in casting aside the debate over crypto price…