Bitcoin is expected to recover aggressively following today’s fall in value. “It seems like another couple of weeks and everything will be normal and [Bitcoin] can start growing back up again.” Pantera Capital’s CEO Dan Morehead told CNBC today. Being the CEO of the first Bitcoin investment firm in the US, Morehead has followed the rise and fall of Bitcoin for many years. His prediction is based on Bitcoin’s previous bear markets—the 64% fall is nothing to be alarmed about as it is the average decline in the Bitcoin market as seen in its last 7 bear markets. According to Morehead bear markets have a 71-day run on average and we are currently on Bitcoin’s 52nd day. Given this, we should be seeing Bitcoin’s value to go up pretty soon. So don’t let Bitcoin’s fall discourage you from making the investment that could potentially change your life. In fact, this is exactly the opportunity you need to invest. Making the best of your investments means being aware of market timing and taking advantage of bear and bull markets.
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