Bitcoin ETF Could Tank Crypto Prices: Pantera CEO

[Galaxy]

Dan Morehead fears that a Bitcoin ETF launch could have a negative impact on the price of the world’s leading cryptocurrency. Dan Morehead, the CEO of Pantera Capital, is confident that the crypto market has entered a new bull cycle. He has, however, also warned that a potential launch of a Bitcoin exchange-traded fund (ETF) could put a damper on the latest run-up.

In an October note to investors, Morehead said that “after a period of temporary insanity,” which included fears that China’s ban on Bitcoin mining would ruin the industry and heated debates on the environmental impact of Proof-of-Work cryptocurrencies, “now we’re in a new bull market.” Source