|Thursday, 19.04.2018 | 11:44 CST|
I agree. 100% that ‘ Now is an ideal time to re-acquire bitcoin.
Let the acquisitions and accumulation of bitcoin resume…
*very important disclaimer*
Turns out this ‘Guy’ identified as ‘Pantera Capital’s’, own, Mr. Dan Morehead.
Mr. Morehead proclaims that Bitcoin HAS reached a bottom for this bear market.
Dan Morehead, the operator of Pantera Capital, & IF you didn’t know Pantera Capital is…..
(One of the most prominent crypto hedge funds on Earth)….
He says that Bitcoin has reached the bottom of its current bear market, and that now is the perfect time to buy BTC.
“Something(bitcoin) that’s growing this fast hardly ever gets below its 200-day moving average,” he said on CNBC’s Fast Money.
“When bitcoin does, then it’s a good time to buy.”
Morehead calculates $6,500USD… (which is 65% below bitcoins all-time high of $19,320ish)…WAS rock-bottom for BTC.
Bitcoin briefly fell down to $6,620 earlier this month; at time of writing, BTC is trading roughly $8235.
Conflict of Interest?
Uh YES.,, Being Mr. Morehead is the manager of a hedge fund that returned an impressive 25,000% in 2017,alone.. One might have reason to Blieve, that Mr. Morehead’s public opinions might be somewhat biased toward keeping the BTC market afloat.
But, to his credit, Mr. Morehead did say that “for those who are new to Cryptocurrencies, might think a Pantera fund manager like Morehead, would always be saying…BUY,BUY,BUY…
‘Today’s a great day to ‘Go Long.’ Not so much, being that “We’ve only made 4 cryptocurrency trade recommendations in 7 years:
3 BUY recommendations and
1 SELL recommendation.” He further states that
It’s also important to note that Bitcoin only comprises a fraction of Pantera’s many portfolios.
In fact, an investor letter published by the firm earlier this month confirmed that YES, the firm’s crypto hedge fund sustained a loss of roughly 50% or half of its value.
However, the letter, firmly ensured investors that they should still see profits.
Indeed, Pantera is Now very bullish on Bitcoin.
Last month, the firm announced that it will be launching a third blockchain-oriented venture fund, sooner than later. ..
2 B continued…