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Pomp Remains Bullish on Bitcoin, Predicts Potential Doubling Soon
- On his regular segment with CNBC, Anthony Pompliano argued that Bitcoin’s bull run is only just beginning.
- Pomp discussed historical data that showed BTC doubled in price 3 out of the 4 times it created a new all-time high – all within 18 days.
- The analysis comes as Bitcoin finally broke through to post a new BTC/USD all-time high above $69K.
- Although a prediction of USD $140K by the end of March might seem fanciful, Bitcoin has a neat habit of making people eat their words.
Prominent crypto influencer Anthony Pompliano has long been one of the industry’s biggest Bitcoin bulls. After a relatively slow day at the office, where the price of BTC has fallen 6%, some in the community are fearful that an end to the rally may be in sight. However, Pomp believes that the crypto market has other ideas. While a short-term correction may be necessary, he suggests that more gains are on the horizon.
Related: Microstrategy Prepares For More BTC Purchases With $600 Million Raise
BTC to USD $100K? Pomp Says Yes
Bitcoin’s resounding push over the past few months had investors salivating about a new all-time high. And finally, that moment came to pass when the price of BTC broke through USD $69K (AUD $106K) earlier this week. The fall from the pedestal was swift though, with the digital currency taking less than 24 hours to sink by over 10%, before stabilising in the USD $64K (AUD $98K) range.
But according to Anthony Pompliano, host of the ever-popular “Pomp Podcast”, this plunge is nothing to be concerned about. In fact, Pomp believes that Bitcoin is destined for a date with six figures (in USD) – and sooner rather than later.
Speaking on his regular CNBC segment, Pomp pointed out a historical trend in Bitcoin that may signal an impending bull run that dwarfs what investors have enjoyed over the past few months:
If we go and look back at past record high breaks, where we’ve eclipsed the past all-time high, three out of the four times, Bitcoin doubled in eighteen days or less.
Anthony Pompliano From the outside, a 100% increase in 18 days seems like a far-fetched tale that only exists in the folklore of crypto millionaires who invested a dollar back in 2009. Even the most bullish Bitcoin maximalist might steer clear of predicting a USD $140K (AUD $215) value by the end of March.
Related: Coinbase Crashes For Second Time Amid Market Rally
However, BTC has a history of surprising people with the power of its trends – both positive and negative – and at this point, can you really bet against Satoshi’s vision shocking the world once again?
Author
Ben Knight
Ben Knight is a writer and editor from Melbourne with a passion for all things music and finance. He enjoys turning complex topics – especially the technical details of cryptocurrency – into digestible bites that anybody can understand. He acquired his Master’s in Writing, Editing and Publishing from RMIT in 2019 and has run his own creative writing business ever since.
