In the new issue of Blockchain Letter, Dan Morehead, CEO of crypto investment company Pantera Capital, stated that the brutal bear market in which BTC plunged by more than 80% is now a thing of the past, and Bitcoin has entered the era of halving and no longer follows the previous market cycle. Extreme volatility.

"I believe we have completed the four-year halving cycle-and entered the next era of prices.

We have updated the chart used since 2014 to show major bull and bear markets. My feeling is that we completed the halving cycle in April. We were crazy for a while, China's mining ban was considered negative, some people turned the blockchain ESG upside down, and now we are in a new bull market.