Paul Veradittakit Sees Buying Opportunities Amidst Crypto Bear Market

Paul Veradittakit Sees Buying Opportunities Amidst Crypto Bear Market
Pantera Capital Partner, Paul Veradittakit seems to be seeing the current crypto market crash posing some opportunities.
Paul Veradittakit Sees Buying Opportunities Amidst Crypto Bear Market

Given that high-liquidity cryptos are trading at more affordable prices, Veradittakit sees this time as an excellent opportunity to invest. He added that an extended period of market weakness could screen out the more successful, long-term projects.

Still, fewer new tokens are projected to enter the market, with most forthcoming projects likely opting for equity-based funding.

The bear market still prevails

Crypto markets have witnessed a lot of consolidation this year, with major Bitcoin now trading over 50% below its all-time high. The token is also around 60% off its 2022 high and is presently selling at around $30,000.

Veradittakit suggested that investors examine secondary markets as well as simple agreements for future token models to seek value in such an environment. Several venture capitalists will be looking to reduce risk in their portfolios as crypto markets continue to fall.

Most major altcoins are also down significantly, with Ethereum trading below $2000, a long gap below its all-time high of $4,800. So far in May, the total crypto market capitalization has dropped by nearly $500 billion.

Analysts Predict Prolonged Crypto Weakness

The main causes of this year’s crypto crash- rising inflation, and interest rates, are still at work and are projected to keep sentiment low for the foreseeable future.

Some analysts have predicted that persistent weakness could last until 2024. Recent data predicted that US inflation is to fall gradually. But the ongoing conflict between Russia and Ukraine is expected to dent global energy and food markets.

Still, Bear markets have constantly given way to record-high runs. Because prices are reasonable, the market weakness permits several more investors to enter the market.

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