Dan Morehead, founder of Pantera Capital Management believes that now is the time to buy cryptocurrency. In an interview with CNN, he said that the volatile nature of the digital asset only in the hands of investors, and now to participate in the rally are much cheaper.
“All cryptocurrencies are now very cheap. Prices have declined by about 65% compared with their highs. Now buy and participate in the rally much cheaper,” said Dan Morehead, founder of Pantera Capital Management in an interview with CNN.
Bitcoin, one of the most popular cryptocurrency peaked at $19 500 in December of last year, in February, it cost was less than $6000, today it is trading at $7500. Such volatility can make good money, especially as many experts are predicting a new rally and we are confident that bitcoin is the end of the year will cost a minimum of $20 000. In favor of investors could work and the fact that crypto-currencies are not yet regulated properly.
“Need to invest now so that in 3-5 months, when the background of the regulation of the rate goes up, to strengthen its position.” Morehead recommends buying cryptocurrency as soon as the rate falls below the 230-day moving average. This strategy worked well for the 5th time in 6 years.
Pantera Capital Management – a company founded in the US in 2013, is one of the leaders in the cryptocurrency sphere. In the assets of the company include 25 types of liquid digital assets, including XRP, Ethereum and Bitcoin.
Previously on this topic in the news:
28.05.2018: “Buy bitcoin, sell altcoins!” – investor from wall street
Venture capitalist Spencer Bogart said in an interview with CNBC that bitcoin will remain a strong asset, despite the recent fall in prices. By the end of 2018, the cost of the first cryptocurrencies will rise above $10,000.
Bogart is a partner of large VC firm Future Capital. He is the first analyst on wall street who seriously researched bitcoin and blockchain technology. In his interview with Spencer Bogart said:
“Bitcoin is already 3 weeks down in price, but long term Outlook remains unregistered. The institutionalization of bitcoin needed. Every major Bank is trying to do something in the cryptocurrency sphere. Now there is a stable bear market, and for the first time no one predicted “the end of bitcoin“.
Altcoins will not survive the competition
Bogart also said that the cost of many of the altcoins are overpriced and in the long term, they can face significant resistance. The analyst said sell assets such as IOTA, TRON, Cardano, NEO, but will hold Ripple, Bitcoin, Cash, Ethereum, EOS. The expert says: “In the long run Ethereum have a good prognosis. The future of cryptocurrency will be closely connected with the development of ICO, but now its price is affected by hyped tokens created on the platform.”
The expert added that the instability of Fiat currency and the national currency crisis contribute to expanding the use of bitcoin. Spencer Bogart made his prediction that by the end of the year bitcoin will be worth at least $10 000. More optimistic experts believe that the price will reach $20 000.
21.05.2018: 5 factors that affect the price of bitcoin
The price of bitcoin has always had tremendous volatility. 2 months of 2017, the rate has increased by 223%, and just as easily fell by 60% in January-February 2018. What factors provoke the UPS and downs of the digital currency, and affect its value?
5 factors affecting the price of bitcoin:
Experts believe that due to the fact that a reduced amount of bitcoins will continue to grow demand for them. Many predict that by the end of 2018, the first cryptocurrency would cost $20 000.
25.04.2018: Tim Draper: “Bitcoin is more important than the industrial revolution and the Internet”
And known cryptocurrency venture capitalist Tim Draper during the debate, Intelligence Squared US has stated that it considers bitcoin even more valuable than the Internet and industrial revolution.
According to Draper, the world’s most popular cryptocurrency will bring more profits than his investments in Skype, Tesla and Hotmail. The technology of the blockchain crypto is more important than the previous design.
“It is more important than the Iron age, the Renaissance or the industrial revolution. In 5 years people will laugh if you buy a normal money, not digital. Sooner or later the time will come when people will not want to use Fiat currency“.
Draper believes that the main means of payment will bitcoin. Soon it will dominate Althingi and become the market leader. Draper said he will not give up its forecast that after 4 years Bitcoin will be worth $250 000. Other experts are less optimistic, but also believe that by the end of the year bitcoin will rise considerably in price. Tim Draper has already bought about 30,000 bitcoins at auction and is not going to get rid of them. At the moment the total value of its assets of more than $268 million.