Venture Capitalist Fred Wilson: Now Is The Right Time For Bitcoin Investors To Buy More BTC
Venture Capitalist Fred Wilson Says This Is The Right Time For Bitcoin [BTC] Enthusiasts To Invest In The Market
Via a blog-post released by Fred Wilson earlier today, the renowned venture capitalist suggested that it was currently the perfect time for BTC backers to invest in the flagship currency — primarily because he thinks a whole host of exciting new developments are emerging from this domain that could potentially have a massive impact on the monetary value of this digital asset.
“We are in the post-crash cycle in crypto, and that has made the sector interesting to me again. Prices are way down and there is a lot of great work being done on projects we are invested in and projects we want to invest in.”
More On The Matter
The Venture Capitalist’s call to buy Bitcoin was in reaction to a message released by Chris Burniske, wherein he posted one of Wilson’s tweets from 2015 in which he claimed that patient investors were always put in positions to reap handsome returns “if they had invested wisely during down market periods”.
In this regard, Wilson responded by saying:
“It requires a lot of patience. We didn’t really get rewarded for it until 2006/2007 in the post-Internet crash.”
Other Key Points Worth Noting
- In Wilson’s opinion, Bitcoin is now beginning to reach its bottom. However, he still believes that the process is going to be gradual and could take up to a year to complete.
- He also believes that while we might witness some mini bull-runs here and there sometime this year, the digital-asset market at large will remain largely bearish through the course of the coming 10-12 months.
- Lastly, Wilson noted that following some upward price movement, BTC as well as many of today’s other top altcoins will face selling pressure that will result in these currencies retesting their former value-lows.
In rounding off this piece, it should be noted that in a recent interview with a trusted media outlet, Wilson expressed his concerns regarding the toxic regulatory environment that had been created by the US government so as to stifle crypto innovation.
With that being said, he did accept that the altcoin domain was ridden with a few issues of its own:
“And we will continue to see all sorts of failures, from scams, hacks, failed projects, and losing investments be a drag on the sector. But that is always the case with a new emerging technology that allows anyone to set up shop and get going. Permissionless innovation produces the greatest gains over time, but also comes with the inevitable bad actors and actions.”