Despite a seven percent fall since the last time Christopher Matta claimed that bitcoin investment was something he’d even recommend to his mother, the former Goldman Sachs executive remains bullish on the long-term future of crypto.
“The bullish sentiment hasn’t changed over the last six months,” Matta claimed.
“Regulators have started to step in. We think that more smart regulations can be good.”
The belief is, according to Matta, that regulators stepping in will eventually see the volatile nature of the currency starting to settle down as regulations are put in place.
Matta also went on to say that “If you’re bullish for the long term, $6,000 is a decent entry point.”
Stressing that the current situation isn’t an indicator of where the price could sit in the future, Matta believes that short-term price falls within the cryptocurrency world should be considered quite normal.
The long-term investment strategy seems to be key in most of these bullish predictions that we’ve seen over the past few weeks, and there is a lot to say for that kind of strategy.
Matta believes that investors with a bullish attitude could end up winners if they play with a long-term strategy, and refuse to be discouraged by volatility that could last mere months in comparison.
He recommends a two to five years strategy when it comes to bitcoin investment, and stated that despite prices taking a dip a positive sentiment is still evident in many investors who understand crypto technology.
Matta was also quick to dismiss any assumption that the launch of Bitcoin futures trading is in some way responsible for the dip in bitcoin value.
The message behind Matta’s comments is that bitcoin investors should hold out through this dip, as it’ll soon be back on the rise.
He mentioned the fact that bitcoin has seen a 70 percent pullback on several occasions, and as such this makes the $6,000 price range a good entry position for a long-term investment.
There are a lot of people out there who got caught up in bitcoin fever, bought in around the $20,000 mark only to panic sell as it hit $10,000 or lower.
This current situation opens the doors for new investors to come in and load up with a long-term plan.
Lover of all things crypto, blockchain and AI, professional tech scribe & part of the editorial team at Crypto Disrupt.