Dan Morehead and two investing colleagues at Pantera Capital believe that the crypto winter is over and has been for months.
Pantera claims in a recent newsletter that the most recent crypto bear market finished on November 21 and lasted 376 days, which is longer than the average bear market duration of 307 days.
Sehaj Singh, an investment associate at Pantera, says that Bitcoin (BTC) saw a 77% decline over this period, compared to the average bear market decline of 73%.
“Pantera has seen 10 years of Bitcoin cycles, but I have traded through 35 years of comparable cycles. I think that blockchain assets have seen their lows and that we are now in the next bull market cycle, irrespective of what occurs in interest-sensitive asset classes.
This is the first bear market to surpass the prior bull market’s destruction. In this instance, returning 136% of the prior rally.”
Pantera thinks cryptocurrencies are starting to “grind higher” and have already entered the next bull market cycle.
Pantera Capital founded the first cryptocurrency fund in the United States in 2013 and presently manages $4.1 billion in assets. The organization has made 100 venture investments and 110 token investments in early-stage companies.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.