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"Now is a great time to invest in Bitcoin (BTC)"
As the year comes to an end, a number of encrypted traders and investors have been trying to figure out what Bitcoin (BTC) expects in 2019. Paul Veradittakit, partner of Pantera Capital in San Francisco, told CoinTelegraph that it is now the optimal time to buy in Bitcoin (BTC).
In a recent Youtube interview with CoinTelegraph, Veradittakit, a leading venture capitalist and consultant to Blockfolio and Icon, said that from a short and medium-term perspective, it would be logical to invest in BTCs at current prices. The Pantera partner is not the only industry expert to support this feeling, since a number of crypto dealers have claimed that in the years to come, traders will kick themselves for not buying BTCs for $ 4,000.
Veradittakit, touching the state of the cryptosphere, noted that altcoins in general remain strongly related to Bitcoin (with the exception of Ethereum and XRP). Regardless of this, the long-standing crypt entrepreneur has noticed that with the low markets, today it is still a "good time to buy cryptocurrencies", adding that diversification in this dynamic sector would be beneficial. He added:
"Putting all the eggs in one basket is probably not a good strategy, so investing in an index or investing in a group of them [altcoins] that you are really passionate or that you also go to a fund manager [to run your holdings is logical]".
The Pantera partner's claims come soon after a recent Ethereum World News report on Tone Vays' thoughts on the same topic. As reported earlier, Vays told CoinTelegraph that the bearish market in 2018 is "significantly different from what happened in 2014 or 2015." More specifically, the trader, formerly of JP Morgan, has noticed that this time, when BTC increases, "the bubble of altcoin will not return."
Vays hinted that the industry has previously indicated that overcoin will not return, as evidenced by the Bitcoin Cash debacle (which he called an "implosion"), and other minor events that have accentuated irrelevance of these alternative currencies.
Jimmy Song, one of the leading educators and developers of Bitcoin, echoed his point of view, saying that many "lousy projects (altcoin)" are probably in agony and will eventually be eliminated from this nascent ecosystem. The song, touching because this is significant, explained that there was a "lot of misinvestment in this space", making the removal of positive fraudulent projects for coins in good faith.
Yet, while there are conflicting opinions on this subject, both sides have their own prejudices. Vays and Song, not their fault, entered the industry when there was only Bitcoin (essentially), and they built their thesis on the investment around the main cryptocurrency. And while Pantera's founder broke into early cryptos, the fund actively invests in altcoin centric platforms, products and services, such as Abra, Brave, Civic, Ripple and ZCash to name a few.
2019 will be a great year
Veradittakit continued to touch the prospects for the cryptosphere in 2019. The Pantera expert first noted that the launch of Bakkt, which is said to have been postponed recently, will be an integral part of the advancing narrative. he explained that if the cryptography market is destined to return to full capacity, the institutions will have to have an effective way to move into this sector. The Bakkt is, of course, a valid access route supported by the Intercontinental Exchange, Starbucks and Microsoft.
The investor has noted that he expects 2019 to invite scalability projects, such as the Lightning Network and other small efforts. But interestingly, Veradittakit has explained that none of these initiatives are expected to be able to compete with Ethereum. Along with a boost to scalability, the well-known crypto-advisor also noted that it expects significant institutions to acquire and invest capital in start-ups, especially as talent continues to flow into this sector.
Title Image Courtesy of Bruno Van Der Kraan via Unsplash
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