Bitcoin price news: Hedge fund CEO says bitcoin price will RISE- but gives stark warning
BITCOIN price has dropped over continuing uncertainty over the future of cryptocurrency but hedge fund manager Dan Morehead said the price will rise again but issued a stern warning. Dan Morehead, the CEO of Pantera Capital said bitcoin price would rise but that cryptocurrency mining does not have any fixed support like other markets such as copper so cryptocurrency companies risk running losses for months. Mr Morehead told CNBC: “I think it is very difficult to ever do real world calculations of the cost of mining. “All these are sunk costs and people have built these enormous data centres with computer chips that are doing the mining. “I think it is unlikely to have any fixed support there.