Pantera Capital CEO: Bitcoin Price Decline is an Overreaction to ETF Delay

After the recent decision of SEC ETF VanEck is relative and SolidX the cryptoforeign exchange market has experienced essential falling. Nevertheless, some leaders of branch are sure that the bitcoin will soon recover from it.

At the moment the market has established a new year minimum, and market capitalization of all cryptocurrencies is at the level of $223 billion now. Some investors have apprehended the decision of SEC as the predupzhdayushchy sign of what will be all their decisions concerning cryptocurrencies.

Nevertheless, Dan Morkhed, the CEO of Pantera Capital, on CNBC have said in an interview of a Fast Money broadcast that this condition of the market — an example of "overreaction of investors".

According to the investor, the market often very violently reacts to news, and the nature of branch forces traders around the world without ceasing to do forecasts how news will affect the price. At the same time the last case differs in nothing from previous.

Despite Morkhed's popularity as bitcoin bull, he believes that bitcoin-ETF in the nearest future you shouldn't wait for emergence.

"The commission is very careful with ETF. I believe that there will pass a lot more time before approval of the first bitcoin-ETF. The last class of assets which has been approved as ETF is copper. And copper exists on the earth already 10 thousand years. Therefore I think that at bitcoin-ETF there are still good chances".

Instead of focusing on similar "uninteresting" news, Morkhed has urged all to pay attention to emergence of the global innovative platform for trade in digital assets of Bakkt from Intercontinental Exchange in partnership with Microsoft and Starbucks.

"It is the major news … it will have very great influence on the markets within the next 5-10 years, in my opinion, is what people have to be concentrated now on" — Morkhed has concluded.