By Solomon Odunayo
Bitcoin (BTC), the largest cryptocurrency by market capitalization gets ready for halving scheduled to come up in 6 months time. The present state of the price of BTC does not indicate that the forthcoming halving will tangibly impact its price. However, Bitcoin enthusiasts such as the popular Morgan Creek Co-founder, Anthony Pompliano still remain positive about the positive impact to expect after the 2020 Bitcoin halving.
Pompliano made another stern opinion in an exclusive interview with a cryptopotato correspondent. There he sentimentally claimed that Bitcoin will attain $100,000 after the fast approaching halving, December 2021 precisely.
Recap of the Interview with Anthony Pompliano
Anthony Pompliano has continuously showcased his unmatched interest in blockchain technology and the first cryptocurrency, Bitcoin (BTC) via his Twitter handle.
It is obvious that the most populous country in the world, China, shows its support for blockchain technology, but discretely despises the storage, use, and trading any form of digital currency, while aiming to promote the underway digital form of its national currency, Yuan.
In the interview, Pompliano argued that regardless of the one-sided support which China displays, Bitcoin will eventually become the last resort of the populace and the governments around the world.
He also stressed that many prominent private and governmental institutions are already showing their interests in blockchain-powered technologies. Summarily, he said blockchain will continue to experience advancement.
Bitcoin (BTC) Price to Attain $100,000 By December 2021
Virtually all Bitcoin enthusiasts, traders, and investors in the cryptocurrency space are earnestly waiting for Bitcoin halving that is scheduled to take place in May 2020. The event has already attracted tons of attention due to the effect the past Bitcoin halving had on its price, especially a year after the event.
Bitcoin having normally held every 4 years. Two had been conducted since the emergence of the digital currency. During the event, the daily supply of minted BTC is expected to decrease by 50% (half). It is economically known that the scenario will cause a scarcity of BTC, which would eventually result in its price spike.
During the interview, Pompliano was inquired of his opinion about what to expect after the much-awaited Bitcoin halving, expectedly, he remains positive regarding the price target he had once set.
He said, “The halving will be a big moment for Bitcoin. I don’t think that the price will shoot up the day after it, but I do think that from the day we are right now, we will see Bitcoin’s price at $100,000 by December 2021.”
The Coming Year Will Be Fascinating for Bitcoin
Furthermore, Pompliano believes that Bitcoin is still in the bull market despite its present price situation. He also believes that the present bull market could last for about 2 years.
He said within this period, BTC price will undergo unusual high volatility, but will still tend to trend upwards. Conclusively, he said, “…2020 is shaping up to be a fascinating year for Bitcoin…”
Bitcoin (BTC) Price Situation in the Market
Bitcoin (BTC) has maintained its stability above $7,400 in the last couple of days. A lot has been said about its unpredictive nature it keeps exhibiting. The same also apply to other top digital currencies in the market.
Anything can be expected of the trend of Bitcoin price at the moment. At the time of filing this report, BTC is trading at $7,558.98, with 0.02% price downtrend in the last 24 hours.