Pantera Capital CEO: Bitcoin Was Only This "Cheap" 20% of the Last 11 Years

The best time to buy Bitcoin was a few years ago, and it first appeared in the early 2010s. The next best time to buy BTC? According to Dan Morehead, currently CEO of Pantera Capital. In a recent tweet, Morehead laid out the truth about why the market is below the trend and now is one of the best times to buy. For new traders, it is best to buy when the market is well below the trend. This is one of those times. #Bitcoin was very "cheap" compared to the 20.3% trend over the last 11 years. More perspective on market timing in our June investor letter: — Dan Morehead (@dan_pantera) June 16, 2021 Bitcoin under market trend? It is clear what Morehead has explained about the Bitcoin price. Currently, Bitcoin is trading 36% below the 11-year exponential trend. So relative to this trend, or the overall direction of the market price, it's very "cheap" to buy and has been below the trend for just over 20% of the last decade. This means that people often pay more for BTC than they should be paying based on price movements. For those of you who want to buy bitcoin at a possible discount, now might be the time because normally bitcoin is not trending like that. While Bitcoin is trading lower after the decline in recent weeks, this does not mean that the market is not ready to recover. Investors should be optimistic that the cryptocurrency is currently cheap compared to the trend. This, along with a 281% year-over-year increase, shows that crypto investors and digital asset holders have nothing to worry about. Related literature | BTC Increases Losses, Why Is $30,000 Important For Next Wave? Pantera Capital is the first US-based institutional asset manager focused entirely on blockchain technology. Since their initial funding in 2013, they have consistently led the way in financing blockchain companies and investing in digital assets.

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