Bitcoin Bull Run: Pantera Capital Says We’re In Next Cycle

• Pantera Capital is an investment firm that specializes in cryptocurrencies, digital assets, and blockchain technology.
• Founder Dan Morehead believes that bitcoin has seen its lows and we’re in the next bull market cycle.
• Over the long-term, bitcoin price has been in a secular uptrend of 2.3x annually over the past twelve years, on average.

Pantera Capital On Bitcoin

Pantera Capital is a crypto-focused investment firm that recently published their February Blockchain Letter titled „The Seventh Bull Cycle.“ The letter is authored by founder and managing partner Dan Morehead who believes that bitcoin has seen its lows and „we’re in the next bull market cycle.“ He further notes that over the long-term, bitcoin price has been in a secular uptrend of 2.3x annually over the past twelve years, on average.

Analysis Of Bitcoin Price Cycles

Morehead references his analysis of bitcoin price cycles from this letter when he tweeted Thursday: „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.“ He further explained in detail about major bitcoin price cycles regarding median downdrafts, drawdowns and rallies noting „This is the only bear market to more than completely wipe out the previous bull market.“

Length Of Bear Market

Morehead noted that median downdrafts have been 307 days while pointing out that this particular bear market lasted 376 days noting it was only able to fully wipe out 136% of previous rallies with 77% drawdown rates. These observations are crucial for investors looking to capitalize on future bullish runs which can be expected if trends stay consistent with previous cycles.

Long Term Uptrend

Morehead further added evidence to his bullish hypothesis by pointing out that over long periods of time BTC prices have shown an annual growth rate of 2.3x which could indicate future gains for those who position themselves accordingly during these cycles.

Do You Agree?

Do you agree with Pantera Capital founder Dan Morehead’s sentiment regarding entering a new bull market cycle? Share your thoughts on this topic below!