Pantera Capital Management, a crypto hedge fund with more than $800 million in assets, shares the positive view of some Wall Street analysts and crypto advocates in that the Bitcoin price has reached its “probable” low at $6,500.
Breaking the 200-Day Moving Average
Public Bitcoin price predictions and recommendations have never been a preference for Pantera Capital Management. The fund’s investments came to light in 2014, but it has only made three buy and one sell recommendations for the last seven years. If there’s one thing that this signals, it’s that Pantera is particularly careful and far from being reckless in their public statements.
Yet, the new call of the fund comes after the largest cryptocurrency crossed its 200-day moving average. To shed some clarity on this, the fund explains:
Traders often use that time period as it seems to be the optimal response time of human psychology,” it says, adding “Long enough to stop fretting about missing the trade. Not too long that the information is lost.
Needless to say, all Bitcoin investors are wondering what the bottom is during this rampantly bearish market for the first quarter of 2018. According to Pantera, …
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