Early bitcoin-investor expects bitcoin prices to fall by 50%

Dan Morehead, CEO of Pantera Capital

hedge fund , focused on digital currencies, believes that bitcoin may fall by 50%, before it moves to new highs. Morehead, being an early bitcoin investor, bought bitcoin for $ 72. While the statement reflects a bearish mood,

Morehead actually pointed investors to the crypto-investors and his long-term vision :
Bitcoin could fall by 50 percent next week, to the marks of a month ago, but in a year it will be much more expensive than today.

The statement reflects Morhoud's view that the crypto currency as an asset class is just beginning to evolve and will continue to grow.

He expressed his opinion, saying:

"For large blockers, such as Bitcoin, Etherium and Ripple, we are in the first stages of a big rally. There will be ups and downs, but we are still at the very beginning."

The Hedge Fund Pantera Capital, founded in 2013, has grown by 60% over the past two months and has grown more than 12,000% since its inception.