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âSo end of 2021, I think Bitcoin (BTC) will hit $100,000 in US dollar value.â â Anthony Pompliano
Despite the gloomy economy, Morgan Creek Digital co-founder Anthony Pompliano says heâs not backing down from his bullish outlook on the BTC price.
In a new interview on Tech with Catalina, the crypto investment firm executive says he predicts the Bitcoin price is on the verge of a new long-term 1,288% bull run that will bring BTC from its current price of about $7,200 to $100,000.
Pompliano says the macro-economic backdrop along with the much-anticipated halving event in May, which will reduce Bitcoinâs new supply by half, will likely fuel a major rally.
He believes that massive money printing by central banks around the world will drive people to invest in assets that remain scarce and offer inherent anti-inflationary properties.
âSo 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 structureâŠ
You then have massive quantitative easing. [In] the United States, weâve announced two trillion dollars in stimulus. Japan just approved an almost one trillion dollar stimulus plan.
Theyâre 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, Bitcoinâs going to have this supply shock. Fifty percent of the incoming daily supply will disappearâŠ
I think youâll continue to see kind of the same level of demand, or more likely youâre 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.â
Pompliano says he expects Bitcoinâs rise to begin slowly, with BTC taking more than a year to register a new all-time high.
âWithin the first 18 months of the halving, give or take, we will see a very material increase in price. My guess is that weâll see $100,000 by the end of December 2021 at a minimum.â
In other breaking Bitcoin News todayâŠ
This Technical Sign Sent Bitcoin 250% Higher In 2019.
Itâs About to Appear Again On April 19th, Josh Olszewicz shared a chart, indicating that Bitcoin is about to cross above the Ichimoku Cloud for the first time in five weeks.
This, he claimed, is a âonce-a-quarterâ buying signal, which is likely to see BTC rally even higher towards $8,000, $9,000, and beyond.
The importance of the Cloud should not go understated.
Previous moves on the daily above red Clouds also led to staggering bullish follow-throughs.
In 2019, the move above the Cloud marked the start of a 250% rally from $4,000 to $14,000, and just this year, the move above the Cloud was followed by a 20% rally higher.
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