Dan Morehead, the CEO of Pantera Capital, has gone on CNBC and stated Bitcoin is flashing a rare buy signal and it’s prime time to buy. Morehead has called the bottom for Bitcoin at $6,500 thus signaling a reversal to the 4 month long bear market. He has even estimated BTC hitting it’s all time high of $20,000 again by the end of 2018.
“Something that’s growing that fast hardly ever gets below its 200 day moving average. When it does, it’s a very good time to buy.”
-Dan Morehead, CEO of Pantera Capital
Pantera’s Bitcoin Fund is stated to be down more than 50% this year but has still returned more than 10,000 percent life to date. Morehead has said the digital currency has been growing at a rate of 165% per year in the last 5 years since Pantera joined the crypto markets in 2013.
Hedge fund CEO says bitcoin’s flashing a rare buy signal from CNBC.
Morehead, an ex-Goldman Sachs alumni, founded Pantera Capital, an investment firm and hedge fund focus which focuses exclusively on ventures, tokens, and projects related to blockchain technology, digital currency, and crypto assets. Pantera Capital currently has roughly $800 million in assets under management.