For quite a long time, some crypto analysts and pundits have been predicting exorbitant prices for Bitcoin, such as $50,000, $100,000, and even $1,000,000.
Although the present state of cryptocurrencies in the market is enough to play down such predictions, people like Anthony Pompliano still remain resolute that Bitcoin price is going to surpass $100,000 someday.
Anthony Pompliano Predicts 1,288% Bitcoin (BTC) Bull Run
Anthony Pompliano, the famous Morgan Creek Digital co-founder, has once again stood by his $100,000 for BTC, by reiterating that the digital currency is poised to rise by 1,288% in a long-term bull-run.
He averred that global macro fallout and the most anticipated event in the crypto space, Bitcoin halving will initiate the price bull run. He said this while in an interview with Catalina.
Read Anthony Pompliano Statement below:
“So end of 2021, I think Bitcoin will hit $100,000 in US dollar value. And really, the reason for that is a combination of the macro-environment with the halving structure…
You then have massive quantitative easing. [In] the United States, we’ve announced two trillion dollars in stimulus. Japan just approved an almost one trillion dollar stimulus plan.
They’re devaluing their currencies and when that occurs, people are going to seek out inflation hedge assets like gold, Bitcoin, real estate, et cetera. And so, right when everyone is running to gold, Bitcoin, real estate and others, Bitcoin’s going to have this supply shock. Fifty percent of the incoming daily supply will disappear…
I think you’ll continue to see kind of the same level of demand, or more likely you’re going to see an increase in demand over time. If you get that increase in demand but you get a decrease in incoming supply, supply-demand economics take over and you get an increase in price.”
“Within the first 18 months of the halving, give or take, we will see a very material increase in price. My guess is that we’ll see $100,000 by the end of December 2021 at a minimum.”
Bitcoin (BTC) in the Market
Bitcoin (BTC) continues to linger at a $7,000 price region. But halving is around the corner. The majority of the crypto pundits believe the event will initiate a new bull run for BTC, which would as well aid the growth of other cryptocurrencies, as it played out in the past.
At press time, BTC is priced at $7,207.75, with a 0.07% price downtrend in the last 24 hours. What Bitcoin halving would bring into the crypto market as predicted, is still mere speculation until it comes to pass. Mind you, history doesn’t always repeat itself.