“Bitcoin Was Born In a Financial Crisis. It Will Come of Age in This One.”
Dan Morehead feels Bitcoin will come of age in this crisis and we should see a new all-time high within 12 months. As we all know by now, anything can happen and with Bitcoin, the sky’s the limit
“Dan Morehead has predicted Bitcoin will ‘come of age’ during the 2020 financial crisis and may top its all time high price within 12 months.
The San Francisco-based blockchain and cryptocurrency hedge fund founder made the comments in a March 25 letter to investors examining the fallout from the COVID-19 financial crisis.
Morehead offered a grim prediction for the economy and said he believes the global economy is about to enter its first ever period of negative growth. “I now believe that the recession is likely to be larger than any post-War recession,” he said about the U.S. economy.
‘I have spent 35 years trading global macro disruptions. This is like no other. This will certainly end the longest global expansion on record. It is likely to have a larger global economic impact than any downturn in recent memory.’”