Bitcoin may have hit the bottom this year, Dan Morehead, founder of Pantera Capital Management, told CNBC. So now it’s a good time to buy.
“All cryptocurrencies are very cheap right now,” said Morehead, who is Pantera’s CEO and co-chief investment officer.
Overall, cryptocurrencies have declined by about 65% from the highs this year, he said.
“It’s much cheaper to buy now and participate in the rally,” Morehead said.
Morehead also illustrates an investment strategy that can make 239%, the system is very simple “buy a currency once it breaks the 230-day moving average, wait a year and sell”
Pantera Capital Management, which Morehead founded in 2013, is one of the first US bitcoin companies. The company owns about 35 pre-sale ICOs and around 25 liquid blockchain currencies, including XRP, ethereum and bitcoin
At the same time Ripple XRP could give investors a huge return on the medium / long term, the CEO of Ripple, Brad Garlinghouse said that at present there is a very high correlation between the price of XRP and the price of bitcoins but this behavior will soon end, the market will become more rational.
Ripple is one of the most promising companies that is making major efforts to promote the adoption of XRP and increase its liquidity, if XRP will become a currency independent of the bitcoin movements then, probably, it will be possible to see a significant price increase, considering all the collaborations that Ripple has with the most important financial companies in the world and those that will arrive over time.