CEO of venture capital firm Pantera Capital Dan Morad said that the current bear market, $6500 is a very low level below which the price of bitcoin is unlikely to fall until the end of the year. It is reported by The Merkle.

In recently sent out the April newsletter Marched noted the high likelihood that bitcoin will grow and even overcome the December high around $20 000.

“I rarely say about the timing of anything. The wave of institutional money will raise the markets at a much higher level” — he stressed.

Thus, the head Pantera Capital optimistic about the medium – and long-term growth prospects for the first cryptocurrencies.

Earlier it was reported that for one only last March the total assets of the cryptocurrency hedge Fund Pantera Capital has decreased by almost 50%.