At the end of April, the venture investor and founder of the Hedge Fund Pantera Capital Dan Morehead said that in the near future the total capitalization of the crypto market could grow to 40 trillion dollars. According to Morehead, the fair market value is at least twice as high as it is now. Now the entrepreneur said that now is the best time to buy Bitcoin.
The rate of the first cryptocurrency is at a low enough level, but it is obvious that in the near future it will only grow, Morehead believes. The combination of these factors creates a situation in which time made investments in cryptocurrency can bring great profits in the future, he said.
"Since the beginning of the year, cryptocurrencies have fallen by almost 65 percent compared to their highs. Now it is much cheaper to buy and participate in this rally."
The lack of market regulation will play into the hands of investors, Morehead believes.
"Many institutions buy rumors about the new rules of operation of cryptocurrencies from the SEC and sell them as a fact. Invest now to three, four or five months, when the market will come large investors, you have already taken their positions."
In conclusion, Morehead gave another tip to investors: buy the currency once it breaks its 230-day moving average, wait a year and sell it. Hope, the founder of Pantera Capital knows what he's talking about — most people don't want to repeat the success of the traders who bought Bitcoin at 19.5 thousand dollars at the end of last year.