"Wow really? Do investors agree with Dan Morehead's statement?'
Pantera Capital Founder and Managing Partner Dan Morehead is optimistic that this is the time for cryptocurrency prices to climb higher after a drastic fall last year.
Earlier, TerraUSD (UST) which is the first stablecoin algorithm in the crypto market was depegged from an unknown attack resulting in a loss of 99.9% of its value.
Not only that, many venture capital companies and hedge funds were also affected, among them Terraform Labs before being followed by Three Arrows Capital (3AC), Celsius Network and Voyager Digital.
It is well known that the event has caused many cryptocurrencies to lose their value from their previous highs, but the FUD has brought joy to some investors looking to buy digital assets at low prices.
The situation worsened when the FTX crypto exchange also suffered a drastic collapse, however Morehead strongly believes that the bad event is now over.
According to him, now is the time for the price of BTC to shine after suffering a huge amount of losses in the middle of the FTX debacle in November last year and recently started to see an increase.
This is because BlackRock has filed an application with the Securities and Exchange Commission (SEC) of the United States (US) to launch a spot Bitcoin (BTC) Exchange Traded Fund (ETF) product, therefore Morehead is confident that BTC and other cryptocurrencies will definitely grow significantly.
Currently, the price of BTC has surged by 6.57% at $28,695 in the last 24 hours with a market capitalization of $557 billion further recording an increase of around 10.49% over the last week.
