Thursday, July 18, 2024
spot_imgspot_imgspot_imgspot_img
HomecryptoCRYPTO BULL RUN
- Advertisment -spot_img

CRYPTO BULL RUN

Pantera Capital predicts a “strong bull market” for cryptocurrencies in the next 18-24 months. According to Dan Morehead, the founder of Pantera, the convergence of positive factors, including the anticipated halving in April 2024, is expected to provide robust tailwinds for the upcoming bull market.

Crypto Bull Market Forecast of Pantera

The U.S.-based Pantera Capital, a hedge fund specializing in digital assets, shared its crypto market outlook in the monthly Blockchain Letter. Pantera’s Blockchain Letters cover various topics focused on the blockchain ecosystem.

Dan Morehead, the founder, and managing partner of Pantera explained in the Blockchain Letter that Pantera has experienced “three full crazy cycles – massive rallies, and then, unfortunately, 85% or so downdrafts.” He emphasized, “I think we’re in the beginning of the fourth big cycle now.”

The executive detailed, “For most of 2022 and 2023, all kinds of rare, crazy bad things were happening – once-in-a-generation-type things. A very important theme now is the absence of bad things.” Noting that “The stock market crashing in 2022 had a huge ‘denominator effect’ on institutions – and they really pulled back from investing in private markets,” he noted:

“With stocks back at record highs, they can invest in private markets again, and so I think the next 18 or 24 months are probably going to be a strong bull market for crypto.”

Institutional Adoption and Positive Catalysts of crypto

Morehead highlighted that institutional adoption appears to be accelerating after the launch of the spot bitcoin ETF in January. “With the halving expected to occur in late April 2024, we believe the convergence of these positive things will provide strong tailwinds for the next bull market.”

The Pantera founder continued: “This is a pivotal moment with the removal of these traumatic, horrible occurrences in the capital markets and blockchain space from the past couple of years, coupled with positive things like the halving and regulatory clarity – all unfolding simultaneously.”

Historical Perspectives and Price Predictions

In August last year, about the crypto, Pantera explained: “The 2020 halving reduced the supply of new bitcoins by 43% relative to the previous halving. It had a 23% as big an impact on the price. If history were to repeat itself, the next halving would see Bitcoin rising to $35k before the halving and $148k after.” In February last year, Morehead said: “I believe that blockchain assets (using bitcoin as a proxy) 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.”

Certainly! Here’s an additional paragraph discussing the emergence of promising blockchains and the potential for the next Solana, featuring the KRYZA Diamond Chain:

The Rise of Promising Blockchains:

As the crypto landscape continues to evolve, several new and ambitious blockchains are entering the scene, each vying to become the next game-changer. Among them, the KRYZA Diamond Chain stands out with its promise of being an interoperable and scalable blockchain. The platform is poised to kick off its Initial Coin Offering (ICO), and early indications suggest a strong start, including an immediate listing on the MEXC exchange. With the anticipation surrounding KRYZA Diamond Chain’s ICO and its interoperability features, the question arises: Could this be the blockchain to follow in the footsteps of Solana’s rapid ascent in the crypto market? As investors eagerly watch the development, the crypto community is buzzing with excitement about the potential of KRYZA Diamond Chain and its role in shaping the future of blockchain technology.

- Advertisment -spot_imgspot_img
RELATED ARTICLES
- Advertisment -spot_img

Most Popular

Recent Comments