Home Bitcoin News Dan Morehead: “Bitcoin exchange rate fluctuations will weaken”

Dan Morehead: “Bitcoin exchange rate fluctuations will weaken”

by admin

Crypto News

Reading time: ~2 m


Pantera Capital CEO Dan Morehead has published a report in which he writes that bitcoin price fluctuations will become less large-scale and there will be no “rollbacks” of the rate by 80%.

The report notes that after the “bullish cycles” in 2013-2015 and 2017-2018, the bitcoin exchange rate decreased by 83% from the maximum values. However, in 2020, the exchange rate fell back by 61%, and in 2021 ― by only 54%.

“I have long said that as the market matures, capitalization increases and institutional investors arrive, the amplitude of price fluctuations in the cryptocurrency market will decrease,” said the CEO of Pantera Capital.

181021_pantera_capital.png

The company’s analysts also noted that the influence of halving on the bitcoin exchange rate is decreasing. So, after halving the reward to miners in 2012, the rate increased 93 times. In 2016, the growth was 2,910%, and after halving last year, the exchange rate increased 7.2 times. The trend is visible to the naked eye.

“The downside of this trend is that we are unlikely to see bitcoin grow 100 times in a year. However, the charts tell me that bitcoin is pretty cheap right now,” Morehead concluded.

181021_pantera_capital_1.png

A week earlier, Dan Morehead expressed concerns that despite the development of a “bullish” cycle, the launch of an ETF for bitcoin could “drop” its price, as it was four years ago with BTC futures.




#Dan #Morehead #Bitcoin #exchange #rate #fluctuations #weaken

Related Posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.