Bitcoin Hitting $100k Is A Conservative Prediction, Says Anthony Pompliano
There have been a lot of crypto-related predictions about the digital assets prices lately, and the ones involving Bitcoin are getting really bullish.
At the moment, the most important crypto in the market is trading in the green and the coin surged to $11,615.78.
BTC hitting $100k is a conservative prediction
Co-founder of digital asset manager Morgan Creek Digital said that his previous prediction which was claiming that BTC will be hitting $100k in the next two and a half years is not too far-fetched. But on the contrary, is conservative.
During a new interview with CNN, Anthony Pompliano says the effects of the Federal Reserve’s decision to cut interest rates for the first time in more than a decade will probably be felt right around Bitcoin’s next halving in May of 2020.
“Whenever we get to recessive periods or slowing growth, central banks have two tools. They can cut interest rates, which they just did yesterday and they can print money, quantitative easing. And when they do both of those things, it usually takes six to 18 to actually feel the effect of those tools,” he said.
Pompliano continued and explained that “what it’s going to do is coincide with the Bitcoin halving, which we can get into what that is. And so we think that cutting rates, printing more money and the systematic structure of Bitcoin is going to lead to higher prices for Bitcoin over a long period of time.”
— Julia Chatterley (@jchatterleyCNN) August 2, 2019
BTC’s fixed supply will become BTC’s foundation of growth
According to Pompliano, the Bitcoin fixed supply will become the very foundation for the growth of the most important digital asset in the future years.
He also said that he expects that the growth of BTC will continue after it hit the bottom of $3,200 back in December.
Check out the video in the tweet in order to learn more about Pompliano’s prediction on BTC.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.