Pantera Capital CEO: Bitcoin will rise to $ 20,000

Dan Morehead, CEO of Pantera Capital, remains optimistic amid the crisis and falling cryptocurrency pricesoptimistically.

According to him, Bitcoin can still reach a record level of $ 20,000 in 12 months.

In a letter addressed to company investors, Morehead said that countries should prepare for a “real recession,” but the ongoing economic crisis will push the cryptocurrency market to higher levels.

Bitcoin was born in a financial crisis and will come of age in a crisis.

Morehead believes that the deficit increasing to a trillion will give a tangible impetus to the rise in prices of things that cannot be quantified in relation to the price of money: stocks, real estate, cryptocurrency. 

In other words, the BTC / USD cross rate will increase.

CEO predicts Bitcoin willrecover in stages as investors explore opportunities arising from the federal budget deficit in the United States. Morehead believes the price of Bitcoin could reach new highs in the next twelve months. In his opinion, institutional investors will need at least 3 months to assess the state of the crypto market. It will take up to six months to study new possibilities and rules of the game. Only after this will large players begin to pour in their funds, and the markets will really begin to grow.