It’s been reported that the bear market is reportedly over, and we can expect some new rallies ahead. Check out the latest reports below.
New crypto rallies around the corner
Accoridng to the latest reports, it seems that Pantera Capital’s Dan Morehead and two investment associates think the crypto winter is over and has been over for months.
In a recent newsletter, Pantera argues the most recent crypto bear market ended on November 21st. He also said that it lasted a total of 376 days, more than the median bear market length of 307 days.
Pantera’s investment associate Sehaj Singh notes that Bitcoin (BTC) saw a drawdown of 77% over that time. This is compared to the median bear market amount of 73%.
“Pantera has been through 10 years of Bitcoin cycles, and I’ve traded through 35 years of similar cycles. I believe that blockchain assets have seen the lows and that we’re in the next bull market cycle – regardless of what happens in the interest-rate-sensitive asset classes.”
He continued and also said this:
“The decline from November 2021 to November 2022 was the median of the typical cycle. This is the only bear market to more than completely wipe out the previous bull market. In this case giving back 136% of the previous rally.”
Bitcoin to explode to $500,000
Robert Kiyosaki believes the Federal Reserve will be forced to print billions to prop up markets, this will be expanding the nation’s debt and eroding the value of the dollar.
He expects scarce assets like gold, silver and Bitcoin to explode in value by the start of 2025.
“Giant crash coming. Depression possible. Fed forced to print billions in fake money. By 2025 gold at $5,000 silver at $500 and Bitcoin at $500,000. Why? Because faith in US dollar, fake money, will be destroyed. Gold & Silver Gods money. Bitcoin [is the] people’s money.”
Stay tuned for more news.