The major hedge fund management organization, Pantera Capital, operating in the United States, issues big bullish projections for Bitcoin. The latest statement from the financial organizations suggests that going forward, Bitcoin is going to become a more stable and preferred investment option among the majority of investors. The idea was presented by Pantera CEO Dan Morehead.
In the official company blog, Morehead claimed that Bitcoin would become the baseline scale for standardizing the price of the remaining cryptocurrencies. He presented the example of previous bear markets where Bitcoin prices plunged by 80%. According to Morehead, the massive cascade trends for Bitcoin bear markets are expected to decline and to go forward; the token will float above 61% to 54% outside of the bull season.
Bitcoin will Become more Stable in the Future
Bitcoin has managed to assert its dominance in the cryptocurrency markets as digital gold. However, many investors still prefer the digital coin over physical gold despite its high price volatility due to massive returns. Meanwhile, Pantera CEO Morehead theorizes that for the upcoming economic period, Bitcoin prices are likely to become more stable.
He further explained that the loss of volatility would also result in the emergence of exponential price bursts. He also claimed that the ongoing bear market is near its end, and the top coin is ready to start a new bull market trend. It is worth noting that the predictions of a recession period are increasing, and the economist believes that more investors will opt out of traditional investment options to favor crypto.
Recently, President Biden has issued an executive order that requires the national institutions to work in tandem to present a detailed report on the economic impact of crypto. There are also other macroeconomics factors like COVID impact and geopolitical tensions around the globe. Morehead wrote in the blog post that it is an exciting time.
He claimed that the next 6 to 12 months are going to be the toughest test and pressure period for the cryptocurrency markets. He also claimed that more investors are likely to ditch TradFi in favor of DeFi. He also pointed out that during April, Bitcoin plunged 56% on the price line in 11 years, which was a rare occasion. It is worth noting that whale investors had been acquiring massive amounts of Bitcoin during this period.