Anthony Pompliano Predicts Potential $50K BTC Price
According to the founder of Morgan Creek Digital, Bitcoin is potentially looking to jump up in price and hit the $50K mark by the end of 2018. Anthony Pompliano has stressed on his belief that the leading cryptocurrency will climb to a new all-time high this year. According to him, exchange-traded funds, more corporate interest, and human mentality will all play vital factors in its climb.
On the 26th of July, Pompliano stated his prediction during an interview, claiming that he believes in Bitcoin’s future and that the currency will, in fact, hit $50K, also adding that his belief ranges from around 30 to 40 percent overall.
As he explains, three different factors come into play behind his positive belief. The first reason is human nature and psychology. He believes that markets are hungry for another round number in price and as he states, that price is $50K. In addition, Pompliano believes that the current situation involving BTC exchange-traded funds and the many submissions to the SEC is fueling Bitcoin even more although possible approval of these applications and ETF are of concern to him.
Another reason behind his confidence in BTC is the spiking interest of companies and businesses into crypto in general. As he points out, the increase in trade is a clear indicator of corporate interest and will contribute nothing but even higher prices. As he states, institutional investments are pouring into futures, funds and more and are going to heavily contribute to Bitcoins $50K skyrocket.
Pompliano has said that the entire world is currently and quickly adopting a digital nature and that traditional financial institutes like banks are hopping onto the hype and offering their own digital products of a wide array and user-friendly interfaces to keep functionality simple and draw in more parties. As for legacy institutions, he explains that they absolutely must adopt digital-tech or be rendered useless later on as the world moves on.
Sam Lessin, previously employed at Facebook before founding Fin and operating as its chief executive director has said that BTC is doing what it was meant to do as a store of value. He adds that in light of the stored value, Lessin explains that he is indeed an extreme advocate and supporter of Bitcoin.