A Bitcoin and Crypto Bear Market is Great for Building and Investing - Pantera Capital Exec. 15

A Bitcoin and Crypto Bear Market is Great for Building and Investing – Pantera Capital Exec.

Quick take:

  • Paul Veradittakit, a Partner at Pantera Capital, believes that crypto markets have entered a bear market.
  • Mr. Veradittakit believes that bear markets are great for companies to focus on building.
  • Additionally, bear markets are a great time to invest because of favorable valuations.
  • Rich Dad Poor Dad author, Rober Kiyosaki, has reiterated that Bitcoin could drop to $11k and even $9k

Pantera Capital’s Paul Veradittakit has predicted that the crypto market selloff of the last few weeks might be the start of a bear market. Mr. Veradittakit is a Partner at Pantera Capital and he pointed out that the crypto markets seem coupled to the traditional stock markets.

However, in the last crypto bear market from 2018 to 2019, it only took 71 days for crypto to uncouple from traditional finance. Therefore, the current situation is somewhat familiar.

A Bitcoin and Crypto Bear Market is a Great Time to Build and Invest.

In addition to the above, Mr. Veradittakit believes that bear markets such as the current one being experienced by Bitcoin and cryptocurrencies are great for companies as they provide time for them to build.

Bear markets are also ‘a great time to invest because of favorable valuations. Structures include equity, equity-token hybrid, and discounted SAFTs.’ He added that investors ‘are going to find great value and long-term successful companies during this time.’

He went on to provide the following tips for entrepreneurs:

Raise capital or operate lean/extend runway for at least 24 months.

Focus on monetization and business model earlier rather than later, creating exit value.

Reduce excessive spending; in crypto, you spend less during a bear market on marketing and push more into the next bull market.

Review service agreements and either cut or re-negotiate.

Larger companies should be active in looking for acquisition targets.

Bitcoin Might Bottom at $11k or Even $9k – Rich Dad Poor Dad Author

Concerning a potential bottom for Bitcoin in the coming months, the author of Rich Dad Poor Dad, Robert Kiyosaki, has once again reiterated that BTC could test $20k, $14k, $11k, or even $9. Mr. Kiyosaki shared his forecast of potential levels for a Bitcoin bottom via Twitter and he went on to explain that he remains bullish as the Fed and Treasury are corrupt organizations.

He said:

I remain bullish on Bitcoin’s future.

Waiting for test of new bottom. $20k? $14 k? $11 k? $9 k?

Why do I remain bullish?

Fed and Treasury are corrupt organizations. They will self-destruct before they regain honesty, integrity and moral compass. Take care. Be aware.