American investor and founder of Pomp Investments Anthony Pompliano spoke about the possible prospects of Bitcoin and gave investors advice on what they should do during the fall of the BTC rate.
In an interview with FOX Business, Anthony Pompliano said there is no need to be afraid of Bitcoin falling, as it opens up opportunities to buy it. Retail and institutional investors are beginning to realize that Bitcoin is a sustainable asset that will be worth much more than it is now in the next five to ten years.
According to the entrepreneur, BTC has now matured significantly compared to previous market cycles and has achieved impressive growth. Pompliano explained that during the bullish trend in 2017 and 2021, Bitcoin underwent several corrections of 30% and 25%. However, in the current market cycle, the situation has improved: the rate of the flagship cryptocurrency has fallen by only 15%. This proves that BTC volatility is gradually decreasing, Pompliano is sure.
Additionally, the current market cycle has seen the emergence of Bitcoin-linked spot exchange-traded funds (ETFs), which were lacking in previous bull runs. According to Pompliano, these financial products will be the main catalyst for Bitcoin growth by the end of the year. Therefore, the Pomp Investments founder predicts that the first cryptocurrency will be able to reach a new all-time high before the end of 2024.
Pompliano previously called Bitcoin the favorite asset of Wall Street financial firms, as they have the opportunity to invest in cryptocurrencies through ETFs.
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Source: Cryptocurrency
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