Crypto Investor Alistair Milne Encourages Bitcoin Purchases Despite Seeing Market Lows
The suffering of Bitcoin since its highest point has lasted almost a year, along with the rest of the crypto assets. Still, there appears to be a lot of promise in the community amongst investors, despite analysts expressing that there are still lower values to be found.
Now, the community is waiting for the upswing that they truly believe is coming soon.
If you aren't accumulating Bitcoin over the next 3-6 months, do you even crypto? https://t.co/HxmQUuH7Mm
— Alistair Milne (@alistairmilne) February 4, 2019
One of the big themes of the cryptocurrency industry lately is capitulation, as commentators in the industry say it is not the time at all. In fact, they are encouraging investors to accumulate, preparing for the next time a rally comes around.
PlanB, a major researcher for Bitcoin, has claimed that Bitcoin still has another 15 months before the block reward is halved, which means that investors need to prepare.
Even though the market is still so young that analysis of its history is basically unnecessary, some plan to follow the advice of PlanB. Alistair Milne, a crypto investor that is in charge of the Digital Currency Fund, said in jest that individuals without intentions to accumulate Bitcoin in the next six months don’t “do crypto.”
The claim that reducing issuance will result in a bull run is an idea that is becoming fairly popular. One trader that has already secured $290+ million in trading for Ethereum in 2017, known as 200M_Trader, said that this instance in the industry should be the cause of growth. Considering how close halving will be, the industry may soon be out of its former crypto winter.
Moon Overlord, a crypto trader with many Twitter followers, claims that the yearly bottoming out of Bitcoin before halving could be enough to see an uptrend this year. He added,
“The next halving is estimated to be May 2020, meaning that the uptrend will begin in May of this year… In which case you’d only have a few months left to buy BTC at this low of price.”
The most recent comment from Milne, which could also have been made with a hint of sarcasm, came after he posted a thread about the underlying value of Bitcoin. He explained that he risk-return of Bitcoin is unbalance, a sentiment shared by Anthony Pompliano of Morgan Creek Digital Assets.
Most likely pointing out the substantial differences between analysts, he added that this asymmetry could cause BTC to continue downward “and/or eventually retest its all-time high… at a minimum.”
Milne seems to believe that retesting the high is the most likely option, saying that the increased consumers and the “price expectations of ‘HODL’ers’ will be the push that BTC needs to go beyond $20,000.