The top of a serious American hedge fund thinks the crashes and pumps of Bitcoin (BTC) shall be much less risky going ahead.
“Whereas we’ve had two -80% bear markets already, I imagine these are a factor of our primordial previous. Future bear markets shall be shallower. The earlier two have been -61% and -54%.
Sadly, there’s no free lunch. The flipside is we most likely received’t see the 100x rallies anymore both.”
Morehead argues that the present bear market is completed and Bitcoin has moved on to a brand new rally cycle.
“The subsequent 6-12 months are prone to see an enormous rally as buyers flee inventory, bond, and actual property markets – for blockchain.”
The CEO additionally notes that BTC in early April was 56% beneath the 11-year exponential progress pattern, which he says is a “uncommon” degree of cheapness for the Bitcoin market.
Bitcoin is buying and selling at $41,341 at time of writing. BTC is up greater than 4% previously 24 hours however down greater than 4% from the place it was priced every week in the past.
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