“Now is the time to invest in bitcoins (BTC)”
As the year approached, many crypto traders and investors tried to figure out what Bitcoin (BTC) was waiting for in 2019. Paul Veradittakit, a partner at Pantera Capital, located in San Francisco, told CoinTelegraph that now is the best time to buy in bitcoins (BTC).
In a recent Youtube interview with CoinTelegraph, Veradittakit, a well-known venture capitalist and consultant for Blockfolio and Icon, said that in the short and medium term, it would be logical to invest in BTC at current prices. Pantera's partner is not the only industry insider who talks about such moods, as many crypto traders claim that in the coming years, traders will kick themselves for not buying BTC for $ 4,000.
Veradittakit, referring to the state of the cryptosphere, noted that alt-cages in general remain strongly correlated with bitcoins (with the exception of Ethereum and XRP). Despite this, a long-time cryptocurrency entrepreneur noted that with low markets today is still “a great time to buy cryptocurrency,” adding that diversification in this dynamic industry would be beneficial. He added:
“Putting all your eggs in one basket is probably not a good strategy. So either investing in an index or investing in a bunch of them [altcoins] that you are really passionate about or even go to a fund manager [to run your holdings is logical]".
Pantera partner statements hotly follow a recent report from Ethereum World News about Tone Vays thoughts on the same issue. As we reported earlier, Weiss told CoinTelegraph that the 2018 bear market “is significantly different from what happened in 2014 or 2015”. In particular, the trader, who previously worked at JP Morgan, noted that this time, when BTC rises, “the altcoin bubble will not return.
Weiss hinted at the fact that the industry had already proactively pointed out that the Alt-Coins would not return, which became clear from the defeat of Bitcoin cash (he called it an “explosion”) and other smaller events that emphasized the irrelevance of these alternative coins.
Jimmy Song, a leading teacher and developer of bitcoins, reiterated the opinion of his colleagues, saying that many “trashy projects (altcoins)” are likely to be in mortal agony and will eventually be cleared of this nascent ecosystem. Song, referring to why this is important, explained that there were “many misunderstandings” in this space, which made the removal of fraudulent projects positive for bona fide coins.
Nevertheless, although there are different views on this topic, both sides have their own prejudices. Vays and Song, through no fault of their own, entered the industry when only Bitcoin existed (as a matter of fact) and created their investment theses around the flagship cryptocurrency. And although the founder of Pantera took up early cryptography, the foundation actively invests in altcoin-oriented platforms, products and services such as Abra, Brave, Civic, Ripple and ZCash.
2019 will be great
Further Veradittakit raised the question of what will happen next with the cryptosphere in 2019. Pantera's insider noted for the first time that the launch of Bakkt, which, according to rumors, has been postponed, will become an integral part of moving forward. He explained that if the cryptocurrency market returns in full swing, institutions will need to find a reliable way to penetrate this industry. Bakkt, of course, is a viable decree supported by the Intercontinental Exchange, Starbucks and Microsoft.
The investor noted that he expects that 2019 will attract scalability projects such as the Lightning Network and other smaller projects. But it is interesting that Veradittakit explained that he does not expect any of these enterprises to be able to compete with Ethereum. Along with the desire for scalability, the well-known crypto consultant also noted that he expects significant institutions to acquire and invest capital in start-ups, especially due to the fact that talent continues to flow into this industry.
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