The founder of Pantera Capital: if you want to buy cryptocurrency, do it now

Dan Morehead (Dan Morehead) — the founder of the American investment company Pantera Capital-oriented projects in the field of blackychan, said in the program «Fast Money» CNBC that now is the best time to buy bitcoin.

Morehead is confident that bitcoin has reached a bottom this year and is unlikely to be cheaper than it is now:

«All cryptocurrencies are now very few. If you are planning to buy cryptocurrency, it is better to do it now, then to not miss the next rally, when the market goes into a stage of growth.»

According to Morehead, one of the main factors that led to such a decline in prices is uncertainty in regulation. Cryptocurrencies still remain largely unregulated industry, which makes it impossible to arrival on the market of large institutional investors who are waiting for the regulators decisions, is able to satisfy their need for liquidity and security.

«There’s a popular saying that successful investors buy on rumors and sell on fact. So, if the rumors that regulators are working on a solution at the institutional level, is correct, then after 3-5 months in the cryptocurrency industry investors will come at the highest level, willing to invest tens or even hundreds of billions of dollars. But while everyone is waiting for the service for the storage of cryptocurrency, approved by the Commission on securities and exchange Commission (SEC)».

Morehead shared his advice for investors: «Buy bitcoin as soon as the price breaks through the 230-day moving average. Wait a year and then sell. It will bring you a 239% return. This model worked on the bitcoin is already 5 times in the last 6 years.»

Pantera Capital Management, founded in 2013, is one of the first American companies in the field of cryptocurrency. The company invested approximately 35 prasalov ICO and 25 liquidity of cryptocurrencies, including ripple, ether and bitcoin.

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