Dan Morehead is the CEO of Pantera Capital, a firm fixated towards Bitcoin and other digital currencies, and corporations operating blockchain technology. Pantera has benefited an average of 25,000 percent during the previous moving averages.
Dan suggests that Bitcoin prices have dwindled to $8,000 since few days indicating a slanted curvature after a series of rises and drops. Dan Morehead, the CEO of Pantera Capital, predicted that BTC price will hit $20,000 in December of 2018, giving green light for buyers.
Bitcoin has been dropping down since mid-January 2018. Morehead added that a market that’s been growing rapidly rarely ever gets below its 200-day moving average. Further indicating that buying Bitcoin at its nethermost value would simply provide high revenue. Pantera capital had received 25,000 percent last December after the prices had dropped last year.
When the MA – Moving average is at high that usually means the market is going to inverse very soon. When the reading is at its lowest, it signals that the market is going to change. The 200 days MA is primarily the aggregate of the closing prices for the last 200 days. Investors and crypto- traders rely on MA as it represents a lift-off, hence providing trading signals.
Twitterati Valerust Kus says that:
“The moment of truth when a CNBC pundit trying hard to shit on bitcoin claims that it’s correlated to stocks. Pantera Capital replies: correlation = 0.2%. ONLY 0.2% Got it??”
Another Twitterati, John Delirious believes:
“Hey CNBC news how about never post about bitcoin again. You know exactly what you’re doing and how #bitcoin reacts to the news. SMH! Dirty..”
Pantera also reasoned stating:
“To put a little empirical evidence behind the assertion …. Better-than-average day to buy cryptocurrency: if you invested $100 on the day that the bitcoin price crossed below its 200-day moving average and sold a year later, your total return would be 285%. Buy low, sell high.”
Roman Daszkiewicz tweeted:
“It’s been a vertical line for 8 years” Classic! The calm tonality as he rolls that line out it priceless … @CarpeNoctom”