The founder of the Pantera Capital cryptogate fund, Den Morehead, said on CNBC that it is now the best time to buy bitcoins on the eve of the forthcoming injections of funds from institutional investors.
According to Morehead, bitkoyn probably reached the bottom in the scale of the current year and now is the time for crypto shopping.
"All the crypto-currencies now cost very cheap," said Morehead, who is the investment manager of the Pantera fund, noting that in general the cryptology dipped 65% of the previous heights, so, according to Morehead, "it's more profitable to buy now before the upcoming rally" .
According to Morhed's assumption, having bought the Crypto currency after deviating from the moving average over the 230-day period, after a whole year, when it was not worth thinking about it, conditionally, you can count on 239% profit. " According to his observations, such a scenario of behavior bitkoyna repeated five times in the last six years.
Summing up his recommendations, Morehead said:
"This is the essence of trading: the price rarely deviates in this way from the moving average over the long term, so today is an excellent day for shopping."
Previously, the manager of Pantera stated that even if the bitcomun befallen the fate of Pets.com (from the era of dotcoms), crypto investors will still be able to get their profits.
