Dan Morehead, CEO of hedge fund Pantera Capital, believes that Bitcoin (BTC) will experience more than 100% annual growth and reassert itself in the crypto industry. He shared his predictions with CNBC in an interview aired on October 5th and published on October 31st.
The concept of web 3.0 is also called the metaverse and is gaining traction in the crypto world. There is a list of crypto coins associated with web 3.0, and investors can find stocks related to this technology. Many people are looking for the best web 3.0 podcasts and the top web 3.0 stocks to invest in.
Morehead: “We could easily see” 40% stocks meltdown
Bitcoin closed October up 29%, recording its second highest month of 2023 and reaching 18-month highs in the process.
Taking into account macroeconomic conditions, Morehead from Pantera and other experts are worried about another type of risk asset – what he refers to as “massively overvalued” stocks.
“Equities are overvalued because the P/E is the same level it was when rates were falling, but now rates are much higher and rising,” he told CNBC.
Morehead referred to the changing macro conditions in the U.S., with interest rates at their highest in over twenty years.
“I’m not saying -43% is going to happen overnight, but we have to keep in mind there have been two 13-year periods where equities were flat – in the 2000s and in the 70’s, 80’s,” he continued on the topic.
Despite the pessimistic outlook, Morehead was positive about both Bitcoin and the largest altcoin Ethereum (ETH), predicting the former to more than double every year, in line with its average performance to date.
“Bitcoin has a 14-year trend growth of 145% a year,” he stated.
The ongoing discussion on web 3.0 crypto coins list, web 3.0 crypto price, top web 3.0 stocks, and best web 3.0 podcasts has raised questions about the difference between web 3.0 and metaverse. While web 3.0 is also known as the metaverse, the two are not the same. Investors interested in stocks for web 3.0 should look into the available crypto coins name list to make informed decisions.
BTC price risks pre-halving collapse
The bullish period for BTC may be preceded by a difficult time for investors.
With the 2024 block subsidy halving looming, some are concerned that a significant drop in value could follow.
According to co-founder of DecenTrader trading platform Filbfilb, this could happen in March prior to the halving.
If it is a consequence of the stock market downturn, the situation is not straightforward. As Cointelegraph reported, Bitcoin has lost its positive correlation to equities, which research firm Santiment recently called a typical early bull market indicator.
Subscribe to our email newsletter to get the latest posts delivered right to your email.
Comments