RATE Group | Buy bitcoin now while it’s still cheap, says cryptocurrency investor
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Buy bitcoin now while it’s still cheap, says cryptocurrency investor

31 May Buy bitcoin now while it’s still cheap, says cryptocurrency investor

Posted at 23:16h in Bitcoin News by

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Bitcoin may have reached its bottom this year, Dan Morehead, founder of Pantera Capital Management, told CNBC. So now is a good time to buy.

“All cryptocurrencies are very cheap right now,” said Morehead, who serves as CEO and co-chief investment officer of Pantera.

As a whole, cryptocurrencies have declined about 65 percent from their highs this year, he said.

“It’s much cheaper to buy now and participate in the rally as it goes,” Morehead said Thursday on “Fast Money.”

Bitcoin, one of the most popular cryptocurrencies, reached highs of $19,500 last December, only to dip below $6,000 in February. On Thursday evening at 5:30 p.m. ET, bitcoin was priced around $7,500.

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