Bitcoin Bottom is Already in According to Pantera Capital
According to the latest update from cryptocurrency hedge fund Pantera Capital, Bitcoin ($BTC) is now in its seventh bull cycle, as the head of the firm, Dan Morehead, predicts that this year will see the rebuilding of trust in the space.
This follows Bitcoin’s best January in a decade. Pantera Capital believes that the cryptocurrency bear market ended on November 21 after 376 days, making it the second-largest bear market the space has faced.
Morehead, a former Goldman Sachs bond trader who founded the fund in 2013, states that blockchain assets have hit the bottom and are now in the next bull market cycle, regardless of the interest-rate-sensitive asset classes’ performance.
According to Morehead, this bear market is the only one to have completely erased the previous bull market, giving back 136% of the last rally.
The market is now starting to rise again as it rebuilds trust, with Morehead predicting that 2023 will be a year in which entities follow the rules and enjoy the rewards of doing so after the previous year saw many bad actors skirting the lines of regulations.
READ MORE: Giant Crash Incoming, Bitcoin Will Skyrocket – Robert Kiyosaki
Pantera Capital, with over $4 billion in assets under management, believes that centralized exchanges will recover on a jurisdiction-by-jurisdiction level, and decentralized finance should not be overlooked as centralized finance platforms rebuild trust. The firm’s portfolio includes 1Inch, Coinbase, BitG, Bitstamp, Brave, Ripple, and Polkadot.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
