Bitcoin is close to a big rise, says major investor


One of the biggest questions of cryptocurrency traders has to do with the valuation and devaluation of crypto assets.

In this sense, many seek the analysis of specialists in the sector to learn how to proceed in the market.

So, for anyone who wants advice, Dan Morehead, founder of Pantera Capital, believes that Bitcoin will start a bull market.

Bitcoin next high

In a new episode of the Money Movement podcast, Morehead says he and his company remain optimistic about the future of BTC.

He believes, therefore, that the asset is preparing for another rally that would be considered “ridiculous” by traditional standards.

That’s because, according to him, Bitcoin could reach up to $ 100,000 next year.

“[Bitcoins] have a compound annual growth rate of 209% over nine years. And we think it will continue, and it’s that simple. There are some bubbles, some trades down, but if it returned to this trend, it would be US $ 100,000 at the end of next year ”, he declared.

Crypto market is more open

Still according to Morehead, in traditional markets, if someone says that an asset will rise 10 times, they will be ridiculed.

However, as he explained, this is something that happens frequently in the crypto market.

“So I think it is a good chance that will reach $ 100,000 by the end of next year,” he said.

Micheal Sonnenshein of Grayscale said that people should only put money in Bitcoin that they might lose.

He specifically cited a recent Grayscale report. The study compares the current market structure of BTC with that of 2016, before the currency started to hit a historic high of 4,400%.

“In my opinion, Bitcoin is not something that people should invest more money in than they can lose. Think of it as an early stage technology, ”he said.

He maintained that, although cryptocurrency can, in some cases, show up to 80% correction, BTC is always much more valuable in this phase than in previous phases.

“Bitcoin is moving from one point to another, but it always keeps rising, setting higher and higher lows,” he concluded.

Read also: 17,000 BTC: Grayscale buys another R $ 1 billion in Bitcoin

Also read: “Bitcoin will shoot or die”, says 10-year forecast

Also read: Trader predicts Bitcoin to R $ 300 thousand in 2021 and raises controversy


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