Bitcoin may have already entered a bull market, despite the carnage of the crypto industry, according to Dan Morehead, founder and managing partner at Pantera Capital.
Coinbase’s CEO suggested that he’d been hearing rumors that regulators would like to get rid of crypto staking, and decried such a possibility. Meanwhile, the median drawdown for bitcoin has been 73%, while during the most recent bear market, the crypto lost 77% of its value from the all-time high, according to Morehead.
However, John Haar, managing director at Swan bitcoin and a former Goldman Sachs veteran, said the narrative may still hold, but it may be too late to buy bitcoin for this reason given inflation has already peaked in the U.S. DCG sells shares in crypto trusts Crypto conglomerate Digital Currency Group reportedly has been selling shares in several crypto trusts run by its subsidiary Grayscale at a deep discount, as it strives to raise money to repay creditors of its bankrupt lending arm Genesi, according to a report by the Financial Times this week.
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