As Bitcoin (BTC) prices faced a correction on Tuesday, Dan Morehead, founder and managing partner of Pantera Capital, expressed optimism about the cryptocurrency’s future. In a recent interview, he suggested that the current market challenges could be temporary and that the rally might not be over. Bullish Future For Bitcoin Amid Regulatory Shifts Reflecting on Pantera Capital’s journey since launching its Bitcoin fund 11 years ago, Morehead acknowledged the skepticism they faced in 2013. “People totally thought we were crazy in 2013,” he stated, emphasizing the persistent negativity surrounding Bitcoin. The executive views this prevailing pessimism as a positive sign, reinforcing his bullish stance. “So many people are still negative. It’s far from being a bubble,” Morehead told Bloomberg. Related Reading: Bitcoin Price Alert: Expert Warns Of Upcoming 25% Drop, Timing And Trends Explained Pantera’s Bitcoin fund has yielded a substantial lifetime return of 132,118% since its inception in July 2013, when Bitcoin was valued at just $74. Morehead predicts that Bitcoin could eventually reach $740,000, attributing this potential growth to a changing regulatory landscape. Morehead highlighted the shift from “15-year regul ..
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