Investors ‘Overreacting’ to ETF Delay, Should Focus on Bullish News

Pantera Capital CEO Dan Morehead claimed that crypto markets are reflecting some overreaction from investors recently, in comments to CNBC August 8. Speaking in an interview on CNBC’s “Fast Money,” Morehead suggested that investors have exaggerated the importance of the U.S. Securities and Exchange Commission (SEC) recent delay on their decision regarding a Bitcoin (BTC) Exchange-Traded Fund (ETF). As per Morehead, crypto investors should instead focus on more bullish events in the market, such as the announcement of upcoming cryptocurrency project Bakkt by the Intercontinental Exchange (ICE). The ICE, which operates…

Stop ‘Overreacting’, Crypto Hedge Fund Vet Tells Bitcoin Investors

As the founder of the first U.S. cryptocurrency hedge fund, Dan Morehead has seen his share of bitcoin bear markets. Speaking with CNBC on Wednesday, the Pantera Capital CEO said that he has a simple message for bitcoin investors selling into a market that has already experienced a 67 percent decline from its all-time high: stop overreacting. “The main thing to remember is that bitcoin is very early-stage venture, but has real-time price feed — and that’s a unique thing. People get excited about the price and overreact,” said Morehead,…