Pantera Capital CEO Dan Morehead and Osprey Funds chief Greg King have both expressed optimism about the future of cryptocurrencies in the wake of the recent bear market.
Blockchain assets have reached their lows and are now entering the next bull market cycle, regardless of what happens in the interest-rate-sensitive asset classes, Morehead says.
This would be the seventh bull cycle, after six bear cycles.
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King, meanwhile, says each down cycle is slightly less than the previous one and that prices wouldn’t necessarily rise in a straight line.
As optimism grows, it will translate into finding the ‘wall of worry,’ a term used in traditional financial markets to describe scenarios where markets trend higher despite a lack of positive sentiment, he told Bloomberg News.
That being said, both Morehead and King remain optimistic about the future of cryptocurrencies and believe that the industry has bottomed out.
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Image and article originally from www.benzinga.com. Read the original article here.