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Now’s the time for new investors to buy crypto, says Pantera’s Dan Morehead

"The market has been this ‘cheap’ or cheaper relative to trend only 20.3% of the past eleven years,” says Morehead.

Image by pattymalajak from Pixabay

Thu, 17 Jun 2021, 08:43 am UTC

Last month is probably one of the most volatile months for the crypto market as the correction pulled Bitcoin (BTC) to just above $31,000 from April’s all-time high above $64,000. But Pantera Capital CEO Dan Morehead believes that the massive selloff is over and that investors have the opportunity to accumulate more coins at current price levels.

“A convergence of things caused the blockchain markets to go down sharply,” Pantera Capital wrote in its monthly newsletter published on June 14, which named China’s “ban” on bitcoin, Tax Day, and Elon Musk’s 180 as some of the factors for the massive correction. “The volatility has presented a very compelling opportunity.”

Pantera also explained that BTC’s current price is not overvalued and is actually a deviation from an 11-year trend. “Bitcoin is currently trading 36% below its 11-year exponential trend,” Pantera added, referring to a chart to back up its claim. “Bitcoin has only spent 20.3% of its history as far under trend valuation. At the recent peak, it went just a touch over trend value. As you can see, past peaks were many multiples of trend value.”

Dan Morehead also pointed out that BTC’s year-on-year figures suggest that the crypto is not overvalued as well. “The year-on-year return never went literally off-the-chart like in past peaks,” he explained. “It’s currently trading at 281% year-on-year — which seems entirely plausible given the money printing that has occurred in that period.”

“Bitcoin’s four-year-on-year return is at the lower end of its historical return,” Morehead added. “Again, doesn’t look overvalued. Joey Krug and I think we’ve seen the most of this panic.”

He also reminded holders that Bitcoin generally goes way up. “It has averaged more than tripling annually for ten years,” he said. “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.”

“Resist the urge to close down positions,” Morehead advised. “If you have the emotional and financial resources, go the other way.”

The investor believes that now’s the perfect time for new investors to enter the market. “For new investors, it’s best to buy when the market is below trend,” Morehead said. “Now is one of those times. The market has been this ‘cheap’ or cheaper relative to trend only 20.3% of the past eleven years.”

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  • vlad
  • 2021.06.20 21:16:53
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  • profibrahim
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  • profibrahim
  • 2021.06.20 09:49:18
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  • profibrahim
  • 2021.06.20 09:48:57
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  • profibrahim
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  • profibrahim
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  • profibrahim
  • 2021.06.20 09:47:57
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  • profibrahim
  • 2021.06.20 09:47:36
My names is Ann am from USA i want to use this opportunity to thank my great Prof Ibrahim who really made my life a pleasurable one today. This great Prof Ibrahim brought my husband back to me, i had 4 lovely kids for my husband, about 3 years ago i and my husband has been into one quarrel or the other until he finally left me for one lady. i felt my life was over and my kids thought then will never see their father again. i tried to be strong just for the kids but i couldn’t control the pains that torments my heart, my heart was filled with sorrows and pains because i was really in love with my husband. Every day and night i think of him and i always wish he will come back to me, until one day i met a good friend of mine that was also in a situation like me but her problem was her ex-boyfriend who she had an unwanted pregnancy for and he refused to take responsibility and dumped her. she told me that mine was a small case and that i shouldn’t worry about it at all so i asked her what was the solution to my problems and she gave me this great man phone number and his email address [email protected] .com or whatsapp +27785149508,his website,http://www.africanancientspells.com. i was doubting if this man was the solution, so i contacted this great man and he told me what to do and i deed them all, he told me to wait for just Three days and that my husband will come crawling on his kneels just for forgiveness so i faithfully deed what this great man asked me to do and for sure after three days i heard a knock on the door, in a great surprise i saw him on his kneels and i was speechless, when he saw me, all he did was crying and asking me for forgiveness, from that day, all the pains and sorrows in my heart flew away,since then i and my husband and our lovely kids are happy.that is why i want to say a big thanks to Prof IbrahimThis great man made me to understand that there is know problem on earth that has no solution so please if you know that you have this same problem or any problem that is similar, i will advise you to come straight to this great man. you can email him at [email protected] .com or whatsapp +27785149508,website,http://www.africanancientspells.com
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(15) FOOTBALL SOLUTIONS
(16) LUCKY OF CHILD
(17) WHEN YOU WANT POWER
(18) FAMILY PROBLEM
(19) POLICE STATION CASE
(20) DOCUMENT PROBLEM
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  • profibrahim
  • 2021.06.20 09:47:00
This testimony is worth sharing to the world. I am here to tell the world of the good works of Prof Ibrahim. My name is Cissy Wonders am from the UK.. My man left me and my kids for another older woman. It was not so easy for me.. I love my husband so much and I did not lose hope and I kept praying and God finally answered my prayers...i searched online for a spell caster to help me unite me and my lover back forever and i saw so many testimonies of how Prof I brahim has helped so many people online and i decided to give him a trial … I contacted him and explained to him. He told me not to worry that he will bring back my man within 24 hours. He consulted his powers and assured me not to worry . He did his work and cast the spell and to my greatest surprise, my husband came back the same day begging and crying just as Prof Ibrahim said. He begged me for forgiveness and he promised never to leave me for any reason. We are happy and we live together as one. Contact Prof Ibrahim now and be happy forever. dont lose hope and good luck..

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  • profibrahim
  • 2021.06.20 09:46:31
Hello viewers, i am Teddy Jimmys, from USA NewYork, i want to use this opportunity to thank Prof Ibrahim for the great work he has done in my life. I had a very big misunderstanding with my husband and he said he do no longer want me again that he needs a divorce, i was heart broken, i was diverstated and confused, i didn't know what to do until one faithful day i saw a testimony of someone testifying about what Prof Ibrahim has done for her i never believed in magic or spell but i had no choice, i decided to give it a try, so i contacted him via his email ([email protected]@gmail.com) he told me what i need to do which i did and he promised me that within 48 hours my husband was going to contact me, i didn't believed it 100%, so the second day morning as i was preparing to go to work i had my phone ring and i went to pick it up i was surprise it was my husband calling, i answered and he started apologizing to me, i forgave him because i love him so much, and now he has turned a new live he stopped all the bad things he used to do, now he loves me more than he used to before. You can also contact him if you are also passing through and kind of marital problem or relationship issues he is a very powerful spell caster and i believe he will help you too [email protected] or you can also WhatsApp him on : +27785149508 /
EMAIL:[email protected]
http://www.africanancientspells.com
http://www.africanancientspells.com
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