Admittedly, Bitcoin and general cryptocurrencies have had a relatively bad half year, with Bitcoin in particular being on a downward spiral since January. But the industry big wigs maintain a positive attitude on the fate of digital currencies. It isn’t all gloom; Christopher Matta would still ‘absolutely’ invest his mother’s money in cryptocurrencies.

At a sit down at CNBC’s Fast Money show, he reaffirmed to his host, Melissa, that his opinion in June on investing his mom’s money in cryptos still stood even though bitcoin has had a 7% fall since then.

Last time Christopher Matta was on, he said he'd bet his mom's money on #bitcoin. We check in on where he stands now. pic.twitter.com/oGy4axlI24 — CNBC's Fast Money (@CNBCFastMoney) July 12, 2018

The bitcoin fund manager and Crescent Crypto Asset Management Co-founder isn’t swayed by the current wave. He goes on to encourage investors that the current situation isn’t a definition of the future. To him, short term price falls within the crypto sphere are quite normal, crypto history is there to back him up.

Long-Term View the Way to Go

He stressed that investments in cryptocurrencies make more sense when viewed from long term points. According to him, investors with a bullish attitude shouldn’t be discouraged by months long volatility, two to five years investments point at the bull-run! He stated that the general positive crypto sentiment for bullish investors hasn’t been affected, rather, in the six months it has been at a stable positive level. For those who appreciate crypto technology and asset class, the current tight end isn’t a permanent stage.

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Matta notes that there have been regulators stepping into the crypto space. With good regulations in place, the future of cryptos point at stability. While this does not reflect as yet, a long term view projects that volatility will not be so uncertain in future. His sentiments echo those of Brian Kelly who expressed such sentiments in the same show last month. During a similar interview where the host conducted a mock funeral for bitcoin, the BKCM LLC founder and CEO who is also a diehard crypto enthusiast took time to explain that contrary to popular opinion, we have not seen the last of bitcoin.

Industry Growing and Setting up Framework

Christopher also explained that crypto currencies are spurning out long term services in ETFs and Custody funds. As such, the growth in frameworks within the industry will assuredly get cryptos back on track. He dismisses the assumption that the launch of Bitcoin futures trading in anyway caused the Bitcoin slam. He sees no co relation between the two. Similarly, he debunks the notion that futures trading affected the scarcity of Bitcoins, given the scarce nature of crypto currencies is what from the onset attracted investors to them. He firmly states that Bitcoin scarcity is still there, even though it may prove difficult holding them. Either way, futures cannot be physically settled while ETFs have no digital backing, making investing in cryptos remain as the superior option.

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The bottom line advice from the former Goldman Sachs vice president is that investors should hold on as Bitcoin will soon be on the rise. He spoke on the fact that bitcoin has at several points had a 70% pull back. As such, the current $6,000 price is a good place to commit a long term investment. Many people who joined in the bitcoin rush bought them at $20,000 only to cash them out at $10,000 in panic sale. This may be discouraging, but he reveals that there are in fact new investors coming in at the moment with a more tactical approach and outlook on investing.

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So to his mom and all the mothers interested in cryptos, Christopher Matta says; ‘Don’t panic. Hold ‘em!’ The infrastructural developments and improvements are set to not only bring in more retail investors; they are going to help tap into institutional investments.