The CEO of Pantera, Dan Morehead, believes that crypto will change many aspects of our life in the next ten years. During a conversation on CNBC’s Squawk Box, Morehead talked about Bitcoin (BTC), cryptocurrencies, blockchain technology, and how a larger number of users could start to enter the market in the next few years.
Crypto Could Change People’s Life
Dan Morehead, the CEO of Pantera, talked about blockchain technology and cryptocurrencies, and how a larger number of investors could also create increased price pressure on Bitcoin, which has a limited supply.
About it, Morehead said:
“The important thing to keep in mind here is that crypto is such a disruptive thing that’s going to change so many aspects of our lives in the next decades. Crypto is in a secular bull market and it does get caught up in these cyclical downdrafts of risks assets.”
"The important thing to keep in mind is #crypto is such a disruptive thing that's going to change so many aspects of our lives in the next decade," says @dan_pantera. "We all are used to using #bitcoin as a proxy for blockchain, there are hundreds of really interesting projects." pic.twitter.com/Bt6e1UFF6t
— Squawk Box (@SquawkCNBC) September 21, 2022
He went on to say that he sees a world in which it might be possible for risk assets to continue struggling but with blockchain projects reaching new all-time highs based on their own fundamentals.
Additionally, he said that in the next five years the crypto industry could already reach billions of people, which could cause an increase in the demand for different assets. This is something that we have seen in previous bull markets.
Nevertheless, in this case, Morehead explains that blockchain and digital currencies are in a secular bull market. This is despite the fact that there could be regular bull and bear markets inside a long-term secular bull trend. In the future, with more adoption of Bitcoin and digital currencies, there could be an increased demand for these assets.
Let’s not forget that the cryptocurrency market experienced fast growth over the last 5 years. In 2017, for example, there were thousands of projects released as Initial Coin Offerings (ICOs). However, during this bull market, there were many of these projects were not able to remain operative. Many other projects were also considered scams.
Every single bull market in the crypto industry brings new projects. However, those teams that are able to pass the bear markets are usually the ones that build the best long-term products and solutions. Therefore, it will be very important to follow the evolution of this space in the coming years.
According to data shared by CoinGecko, there are more than 12900 coins in the market. That means that there are thousands of projects that released a crypto token and that are currently being tracked by CoinGecko. In the future, the number of projects could continue growing, offering better solutions to crypto investors.
Bitcoin, the largest cryptocurrency in the world, has a market capitalization of $370 billion. Meanwhile, the whole crypto market has a capitalization of $973 billion. Nevertheless, digital assets have been in a bear trend over the last few months (since November 2021). As always, the market is very volatile.
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