Crypto Market Bull Cycle Picking Up Steam Despite Market Apathy

Bitcoin, the flagship cryptocurrency, is entering its seventh bull cycle, according to Dan Morehead, the CEO of Pantera Capital, a $4.1 billion cryptocurrency hedge fund.[0] Morehead, a former Goldman Sachs bond trader, has been through 10 bitcoin cycles and has traded through 35 years of similar cycles, so his opinion carries considerable weight.

The crypto bear market recently ended on November 21, after 376 days, making it the second-largest bear market the space has faced.[1] The median length of a drawdown was 307 days, as compared to the 376-day duration of the prior bear market.[2] The median decrease was -73%, with the most recent bear market bottoming out at a -77% decrease.[2]

Mike McGlone, a senior macroeconomic analyst at Bloomberg Intelligence, recently shared his take on the crypto-currency market.[3] He believes that those who buy and hold are more likely to benefit from the current situation, as opposed to those who speculate and use leverage.[3] The analyst cites increasing volatility, typical of bear markets, as the reason.[3]

McGlone further noted that more regulations may be coming to the industry in the near future, as there’s “so much adult supervision needed in crypto,” even though “people complain about regulation.”[4]

Alex Krüger, an economist and trader, claims that Ethereum (ETH) and Bitcoin (BTC) may have additional downside potential but that a fresh crypto rally is close at hand.[5] The economist believes that the cryptocurrency markets may recover as soon as the following few days.[5] He also noted that the Consumer Price Index (CPI), slated for release on February 14th, may be a sign of what the Federal Reserve will do next to fight inflation.[5]

Overall, the crypto market has entered its next bull cycle, and it is expected to continue growing despite the current market apathy.[6] Investors are advised to buy and hold, rather than speculate and use leverage, in order to gain the most benefit. The CPI report may provide further insight into the future of the market.[7]

0. “Bitcoin Price Prediction as Pantera Capital CEO Says Next Bull Market Cycle Has Already Started – What Does He …” Cryptonews, 12 Feb. 2023,

1. “$4 Billion Crypto Fund Says Bitcoin ($BTC) Bottom Is in as Crypto Enters New Bull Cycle” CryptoGlobe, 15 Feb. 2023,

2. “Pantera Capital: Bitcoin Has Entered Its Seventh Bull Cycle” The Dales Report, 13 Feb. 2023,

3. “Bloomberg reveals this strategy to maximize your gains in the crypto-currency market” Royals Blue, 14 Feb. 2023,

4. “Bloomberg Analyst Issues Warning, Says Bitcoin Facing Massive Threat From Rate Hikes and Recession” The Daily Hodl, 13 Feb. 2023,

5. “Economist Issues Warning Ahead of CPI Report on 14 February–Bitcoin and Ethereum in Trouble?” Coinpedia Fintech News, 12 Feb. 2023,

6. “Is Bitcoin Entering Into A New Bull Run? Pantera Capital Weighs In” NewsBTC, 14 Feb. 2023,

7. “Bitcoin’s next bull cycle is already here: Pantera Capital” Techstory, 13 Feb. 2023,