In recent weeks, the price of crypto coins declined unexpectedly. Anyway, Dan Morehead, founder of cryptocurrency hedge fund Pantera Capital, says that now is a perfect time to buy. CNBC said he spoke, Morehead mentioned that the price of Bitcoin has fallen below its 230-day moving average, which has historically proved to be a great trading opportunity for investors to buy Bitcoin and hold for at least one year.
He Said to CNBC ,
“Without even thinking about it,” he said, “you make an average of 239 percent.”
“That’s the essence of this trade: It rarely ever gets cheap to its long-term average,” added Morehead, a former Goldman Sachs executive. “So today is a good day to be buying.”
News Source: https://www.ccn.com/bitcoin-price-analysis-buy-crypto-while-its-cheap-says-hedge-fund-owner/