The crypto market has been through some extreme ups and downs in the last few weeks. The digital assets in the market were seen to take quite a hit, especially Bitcoin as it plunged below $32,000. This sent shockwaves across the crypto market and caused many short-term BTC investors to sell their Bitcoin holdings.
Meanwhile, major BTC investors and Whales made use of the low price and bought the flagship cryptocurrency in large amounts.
However, considering that the market is somewhat stabilized now and most of the panic is over, the Pantera CEO is confident that this might be the best time for novice parties to step into the crypto space. Potential investors can purchase major digital assets such as BTC and ETH by using secure exchanges such as SwissBorg or Kraken.
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New investors can even consider becoming crypto traders and enjoy its benefits, in which case PrimeXBT Covesting is one of the best exchanges to use.
Facts Supporting Pantera CEO’s Claim About the Right Time to Buy Crypto
Pantera Capital is an American hedge fund that specializes in digital currencies. It was founded by Dan Morehead in 2003 and in 2013 the company launched its first Bitcoin-focused investment fund in the U.S.A.
According to Dan Morehead, the best time to purchase crypto is when the market is “well below trend”. He also stated that “we’ve seen the most of this panic” surrounding the selling of cryptocurrencies, which indicates a suitable time for crypto enthusiasts to invest now.
Morehead posted a tweet with a BTC trend deviation chart that supported his above-mentioned claim.
He continued to state that the drastic drop in the crypto market was caused by three major news events.
- Clampdown from China was one of the major factors.
- The U.S. Tax Day affected the markets and led the investors to sell some of their holdings to raise funds for their tax bills.
- Elon Musk’s stance on selling BTC holdings due to environmental concerns over the energy used to mine BTC.
The Pantera CEO also stated:
“The year-on-year return never went literally off-the-chart like in past peaks. It’s currently trading at 281% year-on-year — which seems entirely plausible given the money printing that has occurred in that period.”
Therefore, considering the current market situations and the panic that has now settled down, it can be a suitable time to purchase crypto or more specifically BTC.
The flagship crypto asset is currently trading at $39,315 (at the time of trading), whereas, ETH is trading at $2,449 (at the time of writing).
Using reliable exchanges such as SwissBorg or Kraken can make the entire experience of investing in crypto, safer and easier, especially for novice parties.
How to Easily Trade and Invest in Crypto?
There are numerous factors to consider before trading or investing in a digital asset. The cryptocurrency to choose and the exchange to use are two of the biggest factors that can make all the difference, provided the novice parties have the essential information.
Keeping a track of market trends and analysis of experts as mentioned above, can help potential investors and traders to know the right time to step into the world of crypto.
As mentioned earlier, the top two crypto assets in the market are Bitcoin and Ethereum. These digital currencies offer several utilities and have been purchased by global organizations and well-known individuals.
Therefore, if you have planned to invest in either of them then using secure and trustworthy exchanges can help you safely and easily invest your funds.
On the other hand, if you are a margin trader you can trade Bitcoin and Ethereum with up to 100x leverage on ByBit. Use this link to sign up and earn a free bonus on your initial deposit.
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