CEO of Pantera Capital Morehead stated in his announcement that the decision on Spot Bitcoin ETF will be positive very soon.
The founder of Pantera Capital, Dan Morehead, shared his thoughts on the future of Bitcoin ETFs. Morehead also expressed his views on how the market could react to the almost certain ETF approvals.
Morehead, quoting the market rally in 2017, emphasizes the claim at that time that “when CME Bitcoin futures start, Bitcoin price will rocket.”. According to Morehead’s analysis, BTC, which increased by %2,448 within a year after the futures started, experienced an %84 drop with the launch of the product, and a bear market began.
According to the company’s evaluation, the accessibility to companies launching the product, low cost, and reliable company structures have the potential to attract new investors to the market, unlike previous Bitcoin investors. If this approval comes, a great influx of new investors will enter the market.
This potential influx of new investors can contribute to an increase in liquidity in the cryptocurrency market and Bitcoin, the widely accepted digital asset, being adopted by a broader investor audience.
In addition, according to Pantera Capital’s evaluation, the new investors entering the market will facilitate more corporate acceptance of the crypto asset market with their trust in the reliable structure of the companies.
You can freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.