Pantera Capital Co-Chief Investment Officer Predicts: Next Bitcoin Bull Run Will Lead To A 1,000 Percent Rise Of The Crypto Market

Joey Krug, co-chief investment officer at Pantera Capital, made an announcement earlier today that he expects the next bitcoin bull run to bring an increase by 1,000 percent to the crypto market, as we report in the latest Bitcoin news.

Pantera Capital is one of the largest investment firms globally and Joey Krug made this statement while talking to Bloomberg, saying that the next upward movement could lead the cryptocurrency market cap to reach about $2 trillion.

He said:

“If you look at that next bull run, I think the crypto space overall could hit 10x from here.”

Krug noted that despite the anticipation of the major financial industry players such as Intercontinental Exchange and Fidelity Investments entering the market and boost the price of Bitcoin, he explained that the market is, however, waiting on a bigger adoption to spike the next bull run.

In order for this to happen, the crypto networks must increase and improve scalability by commenting:

“If you look at the internet, it’s easy to say, ‘Well, you just create an app, get some users, and then you solve the scalability problems.’ But these are all markets, and so if you don’t have scalability, you don’t have market makers, and so you don’t have liquidity.
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There is a major innovation on the way for bitcoin also known as the Liquid Network which is a federated Bitcoin ‘sidechain’ that is developed by the blockchain startup Blockstream. This innovation is mostly meant for crypto exchanges and other financial institutions.

This innovation is still not ready entirely and Krug believes that the crypto market has already hit a bottom and will remain the same until the next catalyst comes.