The Running of the Bulls Begins Early This Year: Pantera Capital CEO Very Bullish

Pantera Capital founder Dan Morehead made many bullish comments on bitcoin (BTC)and the cryptocurrency markets in his latest interview. He is adamant that regardless of the most recent correction that the digital currency space is on track to produce returns far greater than normal financial markets. His words seem to have significant substance behind them when a trend analysis is completed, and the upcoming calendar is analyzed.

The Running of the Bulls, Time to Scare the Bears

The Chief Executive Officer (CEO) of Pantera Capital, Dan Morehead, made many remarkably bullish comments this week. He highlighted many trends in the bitcoin and cryptocurrency markets suggesting we are at the end of the bear market which saw BTC correct 64 percent from its high of almost $20,000 in December. However, when you analyze the bull and bear market cycles it can be seen that BTC and the entire crypto markets have suffered seven bear market corrections.

Mr. Morehead noted how 71 days is the average period for a cryptocurrency bear market cycle. Currently, we are on day 55 which means we are at the early range of the bear market ending and have approximately two weeks before we hit the average number of days for the bear cycle.

The King personally thinks the bear market correction completed when BTC dropped under $6,000 with the last few days being the beginning of the bull run. This is because of many catalysts from conferences, regulations, and a unique under-discussed event, the Chinese New Year. Regardless of the disagreement in timing, both the King and Mr. Morehead believe a bull market run is inevitable and on the horizon.

What Goes Up Must Come Down… and Then Go Back Up!

Mr. Morehead can be quoted as saying, “We are certainly aware that it is a very speculative market…Its volatile on the upside, but I can be volatile on the downside.” The volatility of BTC is what allows it to have one hundred percent gains in a one month period. That same volatility allows it to have a fifty percent correction in future months. This type of correction is what the markets just felt, and it has occurred seven times in crypto history. The problem is most traders and investors are new to these markets and do not realize these types of corrections occur fairly regularly.

When referring to day 71, average correction period and how we are currently on day 55, Mr. Morehead’s commented, “So it seems like another couple of weeks, and everything will be kind of normal, and it could start grinding back up.” The King has predicted this bull run has already started, but Mr. Morehead is a firm believer we are still a few weeks out. These weeks should be approached with caution as what the next few weeks’ hold is undetermined. However, what most are in agreement on, is that following major corrections and bear raids, are rebounds and bull runs.

Another positive to highlight that both the King and Mr. Morehead have focused on are the regulations being provided by many governments…

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