[2018-06-01] Buy Bitcoin Now, Says Pantera Capital CEO

[ivanpoldark]

According to Pantera Capital Management’s Dan Morehead, now is a good time to buy Bitcoin and other cryptocurrencies. Here’s why.

‘It’s Much Cheaper to Buy Now’

On Thursday — the founder of Pantera Capital, a San Francisco-based investment firm focused on blockchain technologies — told CNBC’s Fast Money that he believes Bitcoin has hit the bottom for 2018. As such, now is the best time to buy.

The former chief financial officer and head of macro trading at Tiger Management told the trading-focused show:

All cryptocurrencies are very cheap right now […] It’s much cheaper to buy now and participate in the rally as it goes.

Bitcoin, the first and foremost cryptocurrency, topped $20,000 on December 17th, 2017. In February, however, the gold standard of cryptocurrency dropped to levels below $6,000, before ping-ponging back and forth in an attempt to regain stability. At the time of this writing, Bitcoin is trading at $7,507.72, down 0.34 percent over the last 24 hours.

The total market capitalization for all cryptocurrencies has followed a similar pattern, reaching upwards of $830 billion before bottoming out underneath $250 billion. At the time of this writing, the total market capitalization for the cryptocurrency market is just over $330 billion.

Read More: http://bitcoinist.com/buy-bitcoin-now-says-pantera-capital-ceo/

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[SectorZero]

According to Pantera Capital Management’s Dan Morehead, now is a good time to buy Bitcoin and other cryptocurrencies. Here’s why.

‘It’s Much Cheaper to Buy Now’

On Thursday — the founder of Pantera Capital, a San Francisco-based investment firm focused on blockchain technologies — told CNBC’s Fast Money that he believes Bitcoin has hit the bottom for 2018. As such, now is the best time to buy.

The former chief financial officer and head of macro trading at Tiger Management told the trading-focused show:

All cryptocurrencies are very cheap right now […] It’s much cheaper to buy now and participate in the rally as it goes.

Bitcoin, the first and foremost cryptocurrency, topped $20,000 on December 17th, 2017. In February, however, the gold standard of cryptocurrency dropped to levels below $6,000, before ping-ponging back and forth in an attempt to regain stability. At the time of this writing, Bitcoin is trading at $7,507.72, down 0.34 percent over the last 24 hours.

The total market capitalization for all cryptocurrencies has followed a similar pattern, reaching upwards of $830 billion before bottoming out underneath $250 billion. At the time of this writing, the total market capitalization for the cryptocurrency market is just over $330 billion.

Read More: http://bitcoinist.com/buy-bitcoin-now-says-pantera-capital-ceo/

I also fully agree with the idea of buying cryptocurrencies today. If you do not want to trade and speculate quickly, but want to invest in the long term and are ready to wait - now is the time to do it. The cryptocurrency market is very young and promising, so Pantera Capital Manager's Dan Morehead is right.

[richardsNY]

People should make their own decision to buy, and not start buying because an obviously biased party is recommending you to do so. If you buy because someone is saying so, you'll likely end up selling in a similar way. On top of that, Bitcoin is always a good long term buy, so it won't really change much if you buy now or next month, especially so if you are dollar cost averaging. People should buy when they feel comfortable, which in case of the mass it means that they will start buying after the market has been showing some consistent increases over a longer period of time. The mass is always the last to enter and the last to leave a market.

[cetald]

$6000 is a very strong psychological level. I doubt that the bitcoin price will drop below this level. I quite agree that now is the best time to buy bitcoin.

[Slow death]

$6000 is a very strong psychological level. I doubt that the bitcoin price will drop below this level. I quite agree that now is the best time to buy bitcoin.

I agree that one must be very optimistic, but we are suffering great pressure from governments and central bank pressure and any big negative news can push the price down to $ 6000, we are still in a very dangerous zone. if it is at least over $ 10,000 it will be a very good thing, but unfortunately we are in a very dangerous zone

[...]

I do not understand very well because he said that even if the price were $ 10,000 it would still be a good opportunity to buy. if someone wants to buy to hold for the next 5 years then this person has no problem buying the prices of $ 9000, $ 10,000 or even $ 11,000

[BitHodler]

Of course it's much cheaper now than last year's inflated market rates.

It's pretty weak if that's his only point to focus on, because every interview I watched with him as main guest, he keeps referring to how much cheaper current rates are in comparison to last year's rates.

He hasn't mentioned anything about how extremely inflated the market was last year, and I don't think I have to explain people here why he does what he does. He's only here to ride this market at all cost.

That $20,000 mark is hard coded in people's mind till we break it at whatever point in time. The media and all these investors made it look like a big thing, while in reality those who understand this market know better.

[cointopper]

‘It’s a Very Good Time to Buy’ Bitcoin, says Pantera Capital CEO

Here is the full news: https://cointopper.com/news/its-a-very-good-time-to-buy-bitcoin-says-pantera-capital-ceo

[SectorZero]

Yes, it is a question of what we decide when to buy. But as I see it, an absolutely subjective opinion, now is the time. Of course, news about bitcoin balance from minus to plus, there is no constant negative and not much overwhelmed with positive market. But if you want to invest, but you haven't done it yet, you can certainly wait for everything to come up and buy expensive. the General message is clear.

[armankozhin]

I'm new in these topics and I would like to know why they say that it is possible to earn huge sums in bitcoins, but also lose a lot

[dunfida]

$6000 is a very strong psychological level. I doubt that the bitcoin price will drop below this level. I quite agree that now is the best time to buy bitcoin.

I agree that one must be very optimistic, but we are suffering great pressure from governments and central bank pressure and any big negative news can push the price down to $ 6000, we are still in a very dangerous zone. if it is at least over $ 10,000 it will be a very good thing, but unfortunately we are in a very dangerous zone

[...]

I do not understand very well because he said that even if the price were $ 10,000 it would still be a good opportunity to buy. if someone wants to buy to hold for the next 5 years then this person has no problem buying the prices of $ 9000, $ 10,000 or even $ 11,000

As an investor we cant really deny or remove that kind of pressure or having doubts even buying up into $6k mark which we wont even know if the price would tend to go even more lowe due to those side by side negative news that do exist which will really put us on the hesitations on buying out specially if we do buy and seek out profits for a shorter time frame but if you are a long time holder then these scenarios wont really put you into trouble or worries.