The crypto market looks better today, with most coins trading in the green.
After the deep red that we saw for the last few days, this is like a breath of fresh air.
Bitcoin bull Anthony Pompliano said that this whole hysteria over the price of BTC would probably grow louder until there’s “true blood in the streets.”
Violent crypto breakouts
In a new note to investors, he pointed out to Bitcoin’s history of forcing weak hands to capitulate through the highly volatile cycles of new highs and horrible lows.
“When Bitcoin hits extended periods of time in an accumulation phase, it has historically led to violent breakouts that leave investors gasping for more time so they can accumulate,” he said.
BTC to reach $100k by the end of 2021
Pompliano believes BTC will hit $100,000 by the end of 2021 – he also highlighted Bitcoin’s unpredictability and the extreme risk involved in trading crypto assets.
In the long run, Pomp sais that the essential thing is BTC’s ability to keep producing new blocks and more value non stop without fail, regardless of the current level of fear about the price of BTC.
“Regardless of what your risk appetite is, or what your portfolio construction strategy is, make sure you remain vigilant…” he said.
He continued and explained that “The ability to ignore human emotion is a skill sought by every investor. But it doesn’t only apply to euphoric states. It applies to fear and fatigue as well. Bitcoin never sleeps. And neither should you.”
We recommend that you read the complete note to investors that Pompliano wrote.
Regarding BTC’s price today, as we said at the beginning of the article, BTC is trading in the green, and at the moment of writing this article, the most important coin in the crypto market is priced at $7,212.66.