Here’s Why Now is the ideal time to invest in crypto.
According to Pantera Capital, Bitcoin is entering its “seventh bull cycle” and investors should not fear cryptocurrencies after FTX. In his latest “Blockchain Letter” on February 8, the CEO of the wealth management company, Dan Morehead, predicted that 2023 would be “the year to rebuild trust.” As BTC price action eases slightly after a 40% rally in January, some market participants still insist that new macro lows are due to the crypto asset. While the timing of such a scenario varies, there is still no consensus on how the market will recover. However, for Morehead, the time for the cryptocurrency to rally has come. Pantera has been through ten years of Bitcoin cycles and I’ve traded through 35 years of similar cycles,” he noted.
Whatever happens in interest rate-sensitive asset classes, I believe blockchain assets are entering the next bull market cycle. ”
This view differs from the majority by setting aside the debate about the correlation of cryptocurrency prices with risky assets like stocks. Morehead argues that Bitcoin’s price drop from recent all-time highs has put the market in historical context, despite falling below the previous bull market’s all-time high following the FTX debacle in November 2022.
Source: Pipsafe.com – Here’s Why Now is the ideal time to invest in crypto.
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