Tuesday, September 17, 2019

Venture Capitalist Suggests Cryptocurrency Post-crash Dip is a Good Time to Buy

Fred Wilson, a venture capitalist has made suggestions that now is a good time to buy into the cryptocurrency market’s dip. According to him, we are in the post-crash era where there are great developments in projects we’ve invested in. The same was said about potential projects people may have an interest in investing.

Cryptocurrency Has Become Interesting

In a blog post published on February 28, Fred Wilson stated that the cryptocurrency industry has become interesting to him once again. He attributed this to the fact that we are in the post-crash era. Here, great works have been made in projects we have invested in and those which we intend to invest in.

The venture capitalist’s comments were made after Chris Burniske, a partner at Placeholder Ventures, a New York-based blockchain startup made reference to a tweet Wilson had published in 2015 when the first cryptocurrency winter occurred. At that time, Wilson had hinted that cryptocurrency investors could reap benefits later on if they buy into the market during the post-crash.

In his own words:

The lesson I’ve learned in my career is to invest into the post-crash cycle. When you do that, and do it intelligently, you are rewarded greatly

Benefits Were Not Reaped Until Around 2006 to 2007

The venture capitalist responded to the quote by Burniske, pointing out that a great deal of patience is required because, in the time of the internet cycle post-crash, they had to wait until 2006 to 2007 before getting the returns. In his own words, “It requires a lot of patience. We didn’t really get rewarded for it until 2006/2007 in the post-Internet crash.”

Other than targeting virtual currencies, the venture capitalist in January this year had stated that “we will have a different President of the United States by the end of 2019.” Thus, Donald Trump, the U.S. president will probably be removed from office. However, how that may come to be is still uncertain and most likely hard to believe given that no U.S. president has ever been removed through an impeachment process.

Related Article:  Overwhelming Subpoenas Chasing Crypto Exchanges Out of U.S.

Now is a Good Time to Buy Bitcoin

Like Wilson, Spencer Bogart, Blockchain’s capital partner on February 23 stated that now is a good time to buy Bitcoin for those who may have plans to invest in the near future. The cryptocurrency enthusiast believes that Bitcoin never left despite its downward price trend. Nevertheless, it will take sometime before Bitcoin crawls back to its all-time high of $20,000, he asserted.

In the same vein, BTCNN on February 16 reported that Josh Rager, a cryptoanalyst & adviser at TokenBacon noted that this may be people’s last chance to buy Bitcoin at its current price. In the cryptocurrency trader’s opinion, Bitcoin’s price after 2021 will be unaffordable to the average person. As such, it will be difficult for them to lay their hands on a full Bitcoin.

More Articles

Sister of Mark Zuckerberg Agrees to Be on Huobi...

Speaking in Facebook terms, crypto exchange firm Huobi sent a "friend request” Randi Zuckerberg, and she accepted the friend request. This was discovered when...

Bitcoin (BTC) Records Its 400 Millionth Transaction in History

Bitcoin breaks a new record in its stride and continues to defy its slow start to the new year. With positive news coming...

Coinbase Set To Allow U.K. Users Buy/Sell In Pounds...

Cryptocurrency exchange giant, Coinbase is adding further support for the Pound Sterling. This latest move will make it easier for users in the United...

Judge Dismisses the Winklevoss Case against Charlie Shrem

Gemini exchange founders, the Winklevoss twins have now reached a confidential settlement with Charlie Shrem, following months of lawsuits and court hearings.

Japanese Crypto Exchange Unintentionally Gave Bitcoins Away For Free

On Tuesday, February 20, a cryptocurrency exchange by Zaif, an Osaka-based Tech Bureau Corporation, has revealed in an official statement that a technological error...

Square Did Not Surpass Twitter Just Because Bitcoin

While a popular headline today states that Jack Dorsey's Square had passed his other company Twitter in market cap, and related that with the...

Bitcoin Payments Per Month Have Declined in Comparison to...

Fewer payments are being processed per month using Bitcoin in comparison to 2016. Of recent, people are more interested in trading or storing the...

eToro Intends Using Blockchain to Curb Wealth Inequality

A blockchain initiative recently unveiled by trading platform, eToro is said to be in pole position to help curb economic disparity and ultimately fight...

The Emergence of Cryptocurrency and Wealth Redistribution

Generally, this year has not been really good for cryptocurrencies, especially relating to their prices which fell in January and has been topsy-turvy since...

IOTA Picks Ten Outstanding Projects To Fortify Its Blockchain...

IOTA foundation has selected ten outstanding projects to fortify its blockchain system out of over 210 ideas submitted and reviewed by the blockchain. This...

Islamic Bank Successfully Transacts Sharia Compliant Bonds Using Blockchain...

Based on reports, an Islamic bank has successfully carried out a Sukuk transaction using Blockchain technology. Sukuk is a financial certificate that is issued...

11/18/2018: Playchip

Betting and gaming online are becoming more an more of a big enterprise each day. Users spend millions and millions of dollars betting online,...

Latest Articles

Sygnum Becomes World’s First Licenced and Regulated Digital Asset...

Swiss-based Sygnum, a digital asset investment and solutions provider, has become one of the world's first licensed and regulated digital asset banks after receiving...

The Easiest Way to Pass Your Microsoft MCSA MD-100:...

If you try to think of things that don't use Information Technology in one way or another, it would be a very tough task....

Are Worries Over AI’s Effect on the Financial Jobs...

A recent study by Fountech has revealed that two-thirds of adults living in the UK are concerned that the Artificial Intelligence industry will leave...

Will Cryptocurrency Gambling Kill Land-Based Casinos?

It’s hard to deny that the internet has radically changed the gambling landscape. Sure, the common perception of gambling may still involve the glitz...

Why Some Financial Bubbles Are Necessary Economic Disasters

Microsoft 70-411 Exam: Everything You Need to Know

We can’t deny the fact that the world is moving towards the future faster than ever before. Not a day goes by that we...

Why US-based people can’t bet with bitcoins at online...

Online gambling using bitcoin has been happening since the time when cryptocurrency came into being. In the initial days, gamblers used to opt for...

Couple Pays For Breakfast Using Bitcoin, Community Finds This...

A Reddit user by the username u/portageco recently made a post in bitcoin's official subreddit. In his post, u/portageco boasts about how he paid...

Australian Woman Leads Adoption, Tours 10 Countries Spending Cryptocurrencies

Who says you can't go around the world spending cryptocurrencies? As many believe, cryptocurrencies are only good for speculations. But with a little research,...

Did A Physical Bitcoin Just Sell For $99k On...

As at the time of reporting, the listing on eBay had closed. This could be because the seller got a buyer or he decided...

Litecoin Now Approved In 30,000+ Stores

As cryptocurrencies gain ground, more and more technology-based firms find ways to incorporate the nascent technology into everyday life. Moon, prior to this time,...

How To Shop on Amazon with Bitcoin – Step-By-Step...

Wondered how to shop on Amazon with bitcoin? Then here's how you can purchase goods on one of the largest e-commerce websites that ships...