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Financial expert predicts: Bitcoin will recover and rise by more than 100%
Bitcoin is set to return to gains of more than 100%, Pantera Capital CEO Dan Morehead predicts. In an interview with CNBC, he predicts that the price of Bitcoin will continue its current trend of more than doubling every year. Morehead emphasizes that in his opinion the stock market is massively overvalued, even though key interest rates are rising. He points out that based on the risk premium, the stock market should actually be 23% lower on a 10-year bond paying 5% interest. He also warns of possible declines in the stock market, which could resemble flat periods in the long term...
Financial expert predicts: Bitcoin will recover and rise by more than 100%
Bitcoin is set to return to gains of more than 100%, Pantera Capital CEO Dan Morehead predicts. In an interview with CNBC, he predicts that the price of Bitcoin will continue its current trend of more than doubling every year.
Morehead emphasizes that in his opinion the stock market is massively overvalued, even though key interest rates are rising. He points out that based on the risk premium, the stock market should actually be 23% lower on a 10-year bond paying 5% interest. He also warns of possible declines in the stock market, which could resemble long-term flat periods, as was the case in the 2000s and the 70s/80s.
While Morehead is bearish on the stock market, he is bullish on Bitcoin and Ethereum. He praises Bitcoin's growth trend, which has been 145% per year over the past 14 years, and expects Bitcoin to get back on track in the future and continue to more than double each year.
However, Bitcoin is expected to post further losses ahead of the upcoming halving in 2024. Some observers believe a major downturn could occur in March 2024. However, whether this is related to a normalization of the stock market remains unclear.
Source: According to a report by en.cointelegraph.com
Read the source article at de.cointelegraph.com