Is December 2018 the Best Time to Buy Bitcoin Before the 2019 New Year Starts with Bakkt Launch
Binance CEO Changpeng Zhao otherwise known as CZ said that the company is perfectly fine with Venture Capital putting money into the crypto industry even as the market continues to spiral as opposed to investing while the market is down.
While many VCs have "paused", we are actually more comfortable investing now.
Valuations are more reasonable, most have prototype/product, only strong teams left. Much better investment opportunities than at ATH. https://t.co/fJKeB6MQdX
— CZ Binance (@cz_binance) December 14, 2018
Throughout 2018 bear market which we’re still experiencing, crypto community members everywhere have been predicting the Bitcoin bottom. From crypto influencers on Twitter and YouTube, to fanboys and trolls on Reddit, even reputable high net-worth individuals covered in news publications and on TV have been calling the Bitcoin bottom. Bitcoin’s price action shows no mercy to these predictions as it continues to break through key support levels and find new lows.
Barry Silbert, the founder of a VC firm, Digital Currency Group (DCG) wrote earlier this week:
“We've seen half a dozen fundraising deals fall apart over the past month after the lead pulled out. All is not well in crypto VC investor land. Good time to remind founders that a signed term sheet does not equal cash in the bank.”
Weiss, which has produced mixed messages about its opinion of Bitcoin in the past, now said it is “here to stay.”
#BTC is getting to such low levels that it’s becoming one of the best buying opportunities of the year. As a store of value, #Bitcoin is here to stay. We truly think it’s the least speculative investment a person can make in #crypto right now.
— Weiss Crypto Ratings (@WeissCrypto) December 11, 2018
“We’ve seen a lot of progress on the adoption side throughout 2018, and that pretty much guarantees that we will see a bull market again and Bitcoin will make new all-time highs again,”
Juan Villaverde, the architect of Weiss’ Crypto Ratings said.
In a recent discussion between Weiss and Dr. Bruce Ng, a respected educator in Distributed Ledger Technology (DLT) and a lead analyst at Weiss Ratings, discussed ideas on upcoming developments that could lead to the next bull run. The primary topic at hand was about the upcoming launch of Bakkt, a digital asset exchange for institutional investors and primarily known for their launching of physically settled Bitcoin futures.
“It’s hard to imagine a scenario in which Bakkt will NOT open the floodgates for large institutions to buy crypto. And the consequences are potentially far-reaching. Projects like Bakkt could enhance the liquidity, stability and overall size of crypto, helping to create a multi-trillion dollar global marketplace unlike any we’ve seen before.”