Early Bitcoin Investor Says Bitcoin Could Drop 50% Before Going Higher

Dan Morehead, CEO of Pantera Capital, a multifaceted investments concentrated on advanced monetary forms, has disclosed to CNBC that Bitcoin may drop half before pushing to new highs. Morehead obtained Bitcoin at $72.

While the announcement seems bearish, Morehead was really guiding financial specialists in digital forms of money to a long haul vision. He stated:

"[Bitcoin could be] down 50 percent one week from now ... where it was a month back, yet in a year, it'll be significantly higher than it is today."

The announcement is intelligent of Morehead's conviction that the digital money resource class is simply starting advancement and will keep on growing. He influenced his feelings to clear, saying:

"For the huge Blockchains like Bitcoin, Ethereum and Ripple, we're in the principal innings of a multidecade thing. What's more, there will be some ups and there will be a few downs, yet we're still extremely early."

Pantera Capital's computerized money fence investments, established in 2013, is up 60% over the most recent two months alone, and up over 12,000% since its creation.