Buy bitcoin now while it's still cheap, says cryptocurrency hedge-fund owner
Bitcoin could have reached its bottom this year, Dan Morehead, founding father of Pantera Capital Management, told CNBC. Therefore now's an honest time to shop for.
"All cryptocurrencies square measure rock bottom without delay," aforesaid Morehead, WHO is CEO and co-chief investment officer of Pantera.
As a whole, cryptocurrencies have declined concerning sixty five % from their highs this year, he said.
"It's less expensive to shop for currently and participate within the rally because it goes," Morehead aforesaid Thursday on "Fast cash."
The volatile nature of all cryptocurrencies has left market watchers jumpy amid looming restrictive considerations. Cryptocurrency continues to be a mostly unregulated business.
But this may add investors' favour, Morehead aforesaid.
"Many establishments square measures primarily shopping for the rumour [of potential SEC regulations] and merchandising the very fact," he said. "Getting invested with currently in order that in 3, four, 5 months once the institutional, quality-regulated custodians that we're hearing concerning come back on-line, they're going to have already got their positions."
His tip for investors: purchase a currency once it breaks its 230-day moving average, wait a year and sell.
"Without even puzzling over it," Morehead aforesaid, "you build a mean of 239 %."
The bargainer aforesaid this strategy is best illustrated in bitcoin, a coin within which it "happened concerning 5 times within the last six years," he said.
"That's the essence of this trade: It seldom ever gets low-cost to its semipermanent average," Morehead aforesaid. "So nowadays may be a goodbye to be shopping for."
Pantera Capital Management, that Morehead supported in 2013, is one in all the primary U.S. bitcoin companies. The corporation owns concerning thirty five pre-auction ICOs and concerning twenty five liquid block chain currencies, as well as XRP, interim and bitcoin.
FOLLOW, UPVOTE & RESTEEM @saifulazhar
You got a 14.10% upvote from @proffit courtesy of @saifulazhar!
Send at least 0.01 SBD/STEEM to get upvote , Send 1 SBD/STEEM to get upvote + resteem
You got upvoted from @adriatik bot! Thank you to you for using our service. We really hope this will hope to promote your quality content!
You got a 11.76% upvote from @nado.bot courtesy of @saifulazhar!
Send at least 0.1 SBD to participate in bid and get upvote of 0%-100% with full voting power.
You got a 25.00% upvote from @whalepromobot courtesy of @saifulazhar!
You got a 5.88% upvote from @moneymatchgaming courtesy of @saifulazhar! Please consider upvoting this post to help support the MMG Competitive Gaming Community.
This post has received a 40.00% upvote from @msp-bidbot thanks to: @saifulazhar. Delegate SP to this public bot and get paid daily: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP Don't delegate so much that you have less than 50SP left on your account.
This post has received a 29.85% upvote from
thanks to: @saifulazhar.
For more information, click here!!!!
If you use our Robot before your post has 1 day and get an Upvote greater than 1%, you will automatically receive Upvotes between 1% and 10% as a bonus from our other robots.
Help support @minnowhelper and the bot tracker by voting for @yabapmatt for Steem witness! To vote, click the button below or go to https://steemit.com/~witnesses and find @yabapmatt in the list and click the upvote icon. Thank you.
Voting for @yabapmatt
You got a 14.08% upvote from @peace-bot courtesy of @saifulazhar!
Help spread the peace. Want to promote your posts too? Send a minimum of .02 SBD or STEEM to @peace-bot with link in the memo for an upvote on your post. You can also delegate to the bot for daily passive earnings. If you would like to delegate to the Peace Bot you can do so by clicking on the following links:
50SP 100SP 250SP 500SP 1000SP 5000SP
Learn more!
You got a 16.67% upvote from @luckyvotes courtesy of @saifulazhar!
You got a 26.32% upvote from @sunrawhale courtesy of @saifulazhar!
This service has been created with the help of @yabapmatt so please show your support by voting for him for witness!