Pantera Capital Believes The Worst Is Over For Bitcoin

At the time, few realized that an unexpected market drop just before Christmas would signal the beginning of the end for the nearly 12-month digital currency bull run that shook markets and transformed spurious observers into enthralled participants.

Since every crypto skeptic was enthusiastically looking for a bubble, this felt like the moment that crypto markets would suddenly diminish and ultimately dissolve.

Markets would recover from their December lull to reach all-time highs before dropping once again in January.

Crypto markets slouched into an interminable holding pattern in which prices fluctuated considerably less than the previous year, and interest in digital currencies significantly decreased.

In his April newsletter published this week on Medium, distinguished crypto hedge fund, Pantera Capital CEO, Dan Morehead, expressed optimism that Bitcoin's worst days are behind it.

Morehead speculates that some of the market's movement is attributable to tax season, and the need for crypto investors to pay taxes on their extraordinary capital gains from 2017.

Most importantly, Morehead is extremely bullish on the long position for digital currency markets.

Since Bitcoin just passed its 200-day moving average, Morehead contends, it's ready to make a significant price jump.

Morehead's predictions are slowly playing out in the markets.

Institutional money is entering the conversation, and markets have enjoyed a rare streak of near-unanimous price gains this week.