Pantera Capital: bitcoin will collapse 50% before the next rally

Dan Morhad, CEO of Pantera Capital, predicted a 50% drop in bitcoin prices next week. This is reported by CNBC.

«For the big blockchains like bitcoin, ethereum and ripple, we’re in the first innings of a multidecade thing,» said Morehead, who bought bitcoin when it was at just $72. «And there’s going to be some ups and there’s going to be some downs, but we’re still really early.»

Despite the pessimistic forecast, Morhad is convinced that in the long term the bitcoin rate will update no one time the historical maximum, but only after a deep correction to the levels of the previous month.

Pantera Capital was founded in 2013 to invest in the crypto-currency industry. For four years, the company increased its capital by 12,000%, with only 60% growth in November and December.

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