Pantera Capital Predicts Cryptocurrencies Have Hit Bottom, Awaiting "Massive Rally"

Rising interest rates are expected to continue for "several years.

Morehead also said in his newsletter that we are entering an era of rising interest rates that will likely last "several years" and that 10-year U.S. Treasury rates are expected to quadruple.

Investors mentioned that the consensus forecast for the Federal Reserve's peak federal funds rate is 2.1 percent.

"Although the economy is severely overheated compared to two years ago, it is still below pre-outbreak levels," Morehead said, noting that "no one of working age in the U.S. is investing in an environment of rising interest rates."

"Decoupling" is already happening.

Pantera's latest prediction comes after the company gave an accurate ecast in early February that the crypto market had bottomed out.

On a Feb. 1 conference call with investors, the firm's co-chief investment officer Joey Krug predicted that the correlation between bitcoin and traditional financial markets would collapse this spring.