The crypto industry has seen a staggering decline since the beginning of the year. However, several players refuse to panic, confident that the market will recover. Pantera Capital boss Dan Morehead is one of them.
Dan Morehead’s rock-solid optimism
In the next four to five years, crypto will reach billions of people. Dan Morehead, CEO of Pantera Capital, an American hedge fund based in California, made this prediction on Wednesday. For that, the increase in the price of digital assets will be the result of the accelerated development of blockchain and its widespread adoption.
“Hundreds of millions of people are using blockchain today.. I think that in four or five years, they will literally be in the billions.”He explained.
Morehead says he’s not worried about the crypto winter, nor the many bearish forecasts for the digital asset. Also, he believes the sector has almost gone through the worst. He thus referred to the liquidity crunch that prevailed between June and July. This led to a series of bankruptcies among centralized crypto lenders such as Celsius and Voyager Digital.
Dan Morehead reaffirms his confidence in the future of blockchain, emphasizing his belief that there is Hundreds of projects Crypto that can grow in the future. This, dominated by the market capitalization of Bitcoin and Ethereum hit a low of 57% on Tuesday.
“I think crypto is in a secular bull market that has been caught in a downtrend along with other risk assets for the past few months (…) I can easily see a world in a few years (…) where blockchain is back to all time highs. »she said.
For Pantera No. 1, deteriorating macroeconomic conditions, market fatigue, rising inflation and weak market sentiment are affecting the general public’s interest in crypto and market recovery in the short term. But once these issues are addressed, adoption trends will increase rapidly over the next few years. That way, billions of people around the world will hold a crypto wallet, he said.
Get a digest of news from the world of cryptocurrencies by subscribing to our new serviceDaily and weekly so you don’t miss any essential Cointribune!
Far from dampening my enthusiasm, a failed investment in a cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand blockchain and its many uses and relay my pen information related to this ecosystem.