Bitcoin may drop by 50% next week

Baku. 21 December. REPORT.AZ/ Bitcoin can lose half of its current price. Report informs, founder and CEO of Pantera Capital hedge fund Dan Morehead said in an interview with the CNBC channel.

Dan Morehead, who invested $ 72 in Bitcoin, said that sharp rise and fall in block chain projects are still ahead: “Next week, the bitcoin can depreciate by 50% and fall to the level of last month. But after a year, its price may be more than today's."

Notably, Pantera Capital was founded in 2003. The fund is known for its investment in digital currencies. In 2017, annual profit of the fund increased by 25 004% to 1.7 billion AZN.

According to experts' estimates, hedge funds that invested in the best traditionally financial assets made 148% profit this year.