Pantera Capital: “Bitcoin has reached the bottom”

The last two days on the crypto market were spectacular and the third positive day has already started. According to Pantera Capital, one of the larger crypto hedge funds, it is now a good time to buy BTC. They are convinced that the bottom has been reached and that the value of BTC can only increase in the coming months. The upward trend has started.

The tide for crypto coins seems to be turned when you look at the price tables. A lot of coins have increased in value over the past few days with ‘double digits’. Pantera Capital Management claims that the ‘leading’ bitcoin, and thus indirectly the entire crypto market, has reached its bottom.

They advise to go ‘long’ on BTC because the increase of the past few days will not immediately stop their opinion. Purchasing advice from Pantera Capital Management can be taken seriously, since they have given only three purchase recommendations and one recommendation since their exposure to BTC in 2014. They are therefore not reckless and lavish with their advice.

End of the bears market

If they are right, it could mean that we have the worst behind us. Many investors wondered when the crypto market would reach the bottom. Pantera Capital dares to say with great certainty that the bear market is effectively coming to an end.

The price of the BTC has broken the psychological 200-day trend line. Although not every day will turn green, they expect crypto to continue to rise for the rest of the year. Pantera even claims that the record price of $ 20,000 could be destroyed.

This is, of course, a very optimistic analysis, but we will see rising prices in the coming months, it seems quite plausible. Especially when there is a lot of institutional money flowing into the market and private investors continue to surf on the green buying wave as a result of ‘FOMO’.

Sources: CCN, Slimbeleggen

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