• Pantera Capital CEO Dan Morehead recently predicted that the next Bitcoin bull market cycle has already begun.
• He believes that the recent drop in crypto market after FTX is a normal part of the current cycle.
• Data analysis suggests that Bitcoin hash rate has significantly increased due to public miners joining in January.

Pantera Capital CEO: Next Bull Cycle Started

Pantera Capital CEO Dan Morehead recently stated that Bitcoin has already entered its next bull market cycle, despite some market apathy. In the company’s Blockchain Letter, he anticipated that 2023 would be a year of restoring faith in the crypto market and acknowledged that it had experienced lows during this cycle. Morehead firmly believes that blockchain assets are in the next bull market cycle and predicts that Bitcoin will surge by 136% during the upcoming seventh bull cycle, leading to another all-time high.

Data Analysis Supports Prediction

Morehead used data to support his argument and stated that the decline in the crypto market from November 2021 to November 2022 was the median of a typical cycle. He pointed out that it was the only bear market that wiped out more than 100% of the previous bull market, specifically 136%.

Bitcoin Hash Rate Increases

Hashrate Index’s latest analysis reveals that publicly listed Bitcoin mining companies experienced a surge in Bitcoin production in January due to stable electricity prices and improved weather conditions for mining operations. This indicates an increase in overall network security as well as an increased demand for BTC from miners.

What Does This Mean?

With such bullish predictions being made about Bitcoin’s price, investors may want to pay attention if they want to capitalize on potential gains from this upcoming bull run. However, it is important for investors to be aware of possible risks associated with investing in cryptocurrencies before making any decisions regarding their investments.


Despite some short-term volatility, analysts like Pantera Capital’s CEO Dan Morehead remain optimistic about cryptocurrency markets‘ future prospects and believe we are entering into another bullish phase for Bitcoin price appreciation over time. Data also supports this prediction with an increase in BTC hash rate due to public miners joining in January 2021 which may lead to further growth potential down the line as well as increased network security overall.

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