Pantera Capital CEO: Bitcoin Has Only Been This “Cheap” 20% Of The Last 11 Years

2021-6-19 20:25

The best time to buy Bitcoin was a few years and when it first came around in the early 2010’s. The next best time to buy BTC? Right now according to Pantera Capital CEO Dan Morehead.

In a tweet sent out recently, Morehead laid out the facts for why the the market is below trend, making now one of the best times to buy.

For new investors, it’s best to buy when the market is well below trend. Now is one of those times.#Bitcoin has only been this “cheap” relative to its trend 20.3% of the past 11 years.

More perspectives on market timing in our June investor letter: https://t.co/AOvhFyxBJh pic.twitter.com/2bsxbw5Iay

— Dan Morehead (@dan_pantera) June 16, 2021

Bitcoin Below Market Trend?

What Morehead explains about the price of Bitcoin is clear to see. Right now, Bitcoin is trading at 36% below its 11 year exponential trend. So, relative to this trend, or the overall direction of market price, it has only been this “cheap” to buy and under the trend for a little over 20% of the last decade plus.

This means that typically, people pay more for BTC relative to what they should have paid based on price movement. For those looking to buy bitcoin at a potential discount, now may be that time since Bitcoin is not normally under the trend in this way.

Although Bitcoin is trading at a lower price after the downturn in recent weeks, that doesn’t mean the market isn’t poised for a rebound. Investors should be bullish that the cryptocurrency is currently cheap relative to the trend. This along with the fact that it’s year over year return is up 281% shows that there should be no worry from crypto investors and those holding any digital assets.

Related Reading | BTC Extends Losses, Why $30K Holds The Key For Next Wave

Pantera Capital is the first U.S based institutional asset manager focused completely on blockchain technology. Since their first fund in 2013, they have continually been on the cutting edge of funding blockchain businesses, and investing in digital assets.

In Pantera Capital’s blockchain letter from 6/14/2021, they further clarify the reasons why holders should not worry about the recent losses:

It has averaged more than tripling annually for ten years. Anyone that has held bitcoin for 3.25 years has made money. Bitcoin has only printed one calendar year with a lower low. So, most of those investors are up big-time.  

Related Reading | BTC Dips From $40K, Here’s Why Uptrend Is Still Intact In BTC

Why Is The Crypto Market Below Trend?

Many factors play into the reasons that the crypto market is below trend right now. But the biggest comes from the large dip crypto prices took a few weeks ago. With that drop, many investors were scared into liquidation and fears that the market could completely bottom out. The prevailing side effect, Bitcoin trades at a lower price relative to it’s decades long trend.

If you were thinking about dipping your toe into the cryptocurrency market, there is no better time like today to get a good deal on the price of Bitcoin relative to its history.

Feature photo by Chronis Yan on Unsplash

Similar to Notcoin - Blum - Airdrops In 2024

origin »

BestChain (BEST) на Currencies.ru

$ 0.00193006 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 999999
Доступно / Всего 0 BEST

time years buy out pantera morehead best

time years → Результатов: 126


Фото:

Crypto user offers to buy Elon Musk’s NFT tweet for $100,000

The crypto industry constantly sees new trends coming and going. Two years ago, IEOs were the most popular thing around, while last year, the DeFi sector became a trend. These days, in March 2021, it appears that it is time for NFTs to rise, and so far, they have already caused some interesting reactions from […] The post Crypto user offers to buy Elon Musk’s NFT tweet for $100,000 appeared first on Invezz.

2021-3-17 14:55


Фото:

From Gold to Greenbacks: A Look at the US Dollar’s Devaluation, Manipulation and Militant Backing

228 years ago the U.S. dollar was created and ever since then, the national currency has been both powerful and controversial at the same time. Moreover since 1971, after being backed by precious metals for decades, American dollars have been backed by nothing and estimates say a quarter of the U.S. monetary supply was created […]

2021-2-27 20:30


Фото:

Analysts Speculate Money Boom as M2 Supply Follows Upward Trend

According to financial analysts, the money supply has seen a 26% increase since February 2020. The last time that level of increase transpired was over 70 years ago. Facing Unique Financial Times Bitcoin, which several analysts term as a ‘speculative asset’, has recently had price surges, reaching new all-time highs in just a couple ofRead More

2021-2-23 20:00


Фото:

South African Taxpayers Who Fail to Disclose Income From Cryptocurrency Trading Face Possible Jail Time

According to a report, the South African Revenue Service (SARS) has sent out audit requests to taxpayers asking them to disclose their cryptocurrency trades and purchases. Taxpayers that fail to correctly disclose their income from bitcoin or other cryptocurrencies may be “liable to a fine or imprisonment for up to two years.” SARS Tracking Non-Compliant […]

2021-2-4 12:20


Фото:

Ethereum 2.0 Staking Contract Garners Over Two Percent of Total Circulating Supply

Even before climbing to a new all-time high price for the first time in three years, Ethereum had been one of the most-talked-about cryptocurrencies and blockchains in the industry. The ETH 2. 0 staking contract — the deposit address containing the ETH dedicated to validating its new Proof-of-Stake network — has surpassed another milestone.

2021-1-20 17:24


Фото:

Chris Wood of Jefferies Investment Firm Cuts Exposure to Gold for Bitcoin

Investment firm Jefferies trims exposure to gold for the first time in years in favour of bitcoin (BTC). Christopher Wood Cuts Exposure to the Yellow Metal According to a report by Business Standard, Chris Wood, global head of equity strategy at investment company Jefferies is poised to reduce exposure to the time-tested precious yellow metalRead More

2020-12-21 16:00


BTC Smashes Through All-Time-High Past $24K

A Christmas Miracle? Though Bitcoin made headlines this week with its run through $20K and then $23K, it seemed like the mainstream media was only starting to pick up on the momentum. While hodlers who bought BTC at the time at $19,000 are finally feeling that sweet relief about three years later, the fundamentals this … Continued The post BTC Smashes Through All-Time-High Past $24K appeared first on BeInCrypto.

2020-12-20 20:54