Bitcoin (BTC) Could Enter A Two-Three Year Bull Market, Believes Anthony Pompliano
Bitcoin impresses everyone once again as it’s rallying towards $9,000 after a period during which it lingered around $8,000.
Crypto experts are awaiting the surpassing of the $10k level.
Bitcoinist wrote that during a CNBC interview, Anthony Pompliano, Morgan Creek Digital CEO said that neither Bitcoin nor the dollar is tied to anything.
He continued and said that the value drivers of all the equities and every other asset are tied to something such as earnings, interest rates, GDP and so on.
But, a lot of experts don’t consider the US dollar to be as united as the most important crypto in the space, Bitcoin.
Some believe that the US dollar is tied to the US government, and all the economic and military might, as reported by the online publication mentioned above.
Bitcoin bulls are back
During the interview that we mentioned above, Pompliano advised investors to bet on BTC and include the coin in their portfolios because of the fact that “Bitcoin is a non-correlated asymmetric return asset.”
He also said that the bulls are back in the market and BTC exchanges are already seeing an all-time high volume.
The online magazine notes that both retail investors and financial investors such as Fidelity are eyeing the crypto market again.
More than that, other elements are set to trigger the price of BTC to go up.
IRS said that regulation is on its way and the US-China trade war is also helping to drive Bitcoin’s value much higher.
“We hit the bottom of the bear market, and now we have entered into this bull market. It would not surprise me if we entered a kind of two to three-year bull market now,” Pompliano said.
"Bitcoin is not tied to anything"
— Jason Choi (@mrjasonchoi) May 25, 2019
Other bullish predictions
There have been some pretty optimistic predictions these days regarding the price of BTC.
The latest one claims that the stock-to-flow ratio indicates Bitcoin is on a trajectory to $1 million over the next ten years.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.