{"id":17563,"date":"2023-02-13T01:54:19","date_gmt":"2023-02-13T01:54:19","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/were-in-next-bull-market-cycle-markets-and-prices-bitcoin-news\/"},"modified":"2023-02-13T01:54:19","modified_gmt":"2023-02-13T01:54:19","slug":"were-in-next-bull-market-cycle-markets-and-prices-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/were-in-next-bull-market-cycle-markets-and-prices-bitcoin-news\/","title":{"rendered":"We’re in Next Bull Market Cycle \u2013 Markets and Prices Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Crypto-focused investment firm Pantera Capital says bitcoin has seen its lows and \u201cwe\u2019re in the next bull market cycle.\u201d Dan Morehead, the firm\u2019s founder and managing partner, noted: \u201cOver the long-term, bitcoin price has been in a secular uptrend of 2.3x annually over the past twelve years, on average.\u201d<\/strong><\/p>\n

Pantera Capital on the Next Bull Market<\/h2>\n

Pantera Capital published its February Blockchain Letter last week. The letter, titled \u201cThe Seventh Bull Cycle,\u201d is authored by founder and managing partner Dan Morehead and investment associates Ryan Barney and Sehaj Singh. Pantera Capital is an investment firm that specializes in cryptocurrencies, digital assets, and blockchain technology.<\/p>\n

Referencing his analysis of bitcoin price cycles in the letter, Morehead tweeted Thursday:<\/p>\n

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I believe that blockchain assets (using bitcoin as a proxy) have seen the lows and that we\u2019re in the next bull market cycle \u2014 regardless of what happens in the interest-rate-sensitive asset classes.<\/p>\n<\/blockquote>\n

\u201cThat would be the seventh bull cycle, after six bear cycles,\u201d he noted. Morehead explained in the letter that Pantera has been through 10 years of bitcoin cycles and he has traded through 35 years of similar cycles.<\/p>\n

The Pantera Capital founder pointed out that the BTC<\/a> price decline from November 2021 to November 2022 was \u201cthe median of the typical cycle.\u201d He added: \u201cThis is the only bear market to more than completely wipe out the previous bull market. In this case, giving back 136% of the previous rally.\u201d<\/p>\n

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Chart of major bitcoin price cycles. Source: Pantera Capital<\/figcaption><\/figure>\n

\u201cThe median downdraft has been 307 days and the previous bear market was 376. The median drawdown has been a -73% downdraft and the latest bear market ended at -77%,\u201d Morehead continued. \u201cI think we\u2019re done with that and beginning to grind higher.\u201d<\/p>\n

Morehead further noted:<\/p>\n

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Over the long-term, bitcoin price has been in a secular uptrend of 2.3x annually over the past twelve years, on average.<\/p>\n<\/blockquote>\n

Do you agree with Pantera Capital founder Dan Morehead that we are already in a bull market cycle? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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