Dan Morehead, CEO of Pantera Capital, despite the crisis and falling prices of cryptocurrencies remains optimistic.
According to him, bitcoin could still reach a record level of $20,000 for 12 months.
In the letter, addressed to the investors of the company, Morehead said that the country needs to prepare for the “real recession”, but the ongoing economic crisis will push the stock market to higher levels.
Bitcoin was born in the financial crisis and will reach adulthood in a crisis.
Morehead believes that increasing to a trillion deficit will give significant impetus to the growth of prices of things that are not quantifiable relative to the price of money: stocks, real estate, cryptocurrency.
In other words, the cross-rate BTC / USD will increase.
SEO predicts that bitcoin will recover gradually, as investors are exploring opportunities arising from the Federal deficit in the United States. Morehead believes that bitcoin price could reach new highs in the next twelve months. In his view, institutional investors will need to be at least 3 months to assess the state of the stock market. Before six months will be spent on exploring new opportunities and rules of the game. Only after that the big players will begin to pour money and markets really start to grow.