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Top investor explains why the Bitcoin (BTC) price could surge 1,300% in the next 24 months.
For some reason or another, many investors and analysts have begun to fear the worst for the medium-term outlook of the Bitcoin market over the past few months.
Mark Dow, a hedge fund manager that shorted BTC when it traded at $19,000 in December 2017, recently claimed that the cryptocurrency will “die a grinding death, punctuated by spoofs and FOMO spasms of decreasing frequency and intensity.”
Though, some bulls are sticking to their guns. One such bull is Anthony Pompliano, a co-founder and managing partner of crypto venture fund Morgan Creek Capital.
In a recent interview, the long-time investor and tech entrepreneur remarked that he still believes that the Bitcoin price will hit $100,000 by December 2021, just over two years away:
“We will see Bitcoin’s price at $100,000 by December 2021.”
The reason: In less than six months’ time, BTC will see an extremely important event. Known as a “halving” or “halvening,” the number of coins issued per block to miners will get cut in half, effectively meaning that Bitcoin’s inflation rate will be cut in half in layman’s terms.
In other Crypto news today:
3 hot Altcoins lead the market while Bitcoin (BTC) is prepping for its next block reward halving.
While open internet on the CME BTC futures has dropped to 6 month low, Bakkt’s has been reaching to a new high. In the meantime, we are less than 5 months away from the Bitcoin halving with prominent analyst Willy Woo saying, “Prep for halvening front running here on in.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.