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Well!! Did you know?

On June 24th, Founder and partner of Morgan Creek Digital Asset, Anthony Pompliano has made a bold statement that Bitcoin is likely to hit a new record of about $100,000 by 2021 end.

What’s your view on this prediction? Will bitcoin price (https://coinpedia.org/news/bitcoin-is-likely-to-hit-100000-by-end-of-2021/) reach $100,000 by the end of 2021? What’s your BTC price prediction?

Pompliano is 75% confident that BITCOIN Price reaches $100,000 by End of 2021

https://i.imgur.com/vxtBTxI.png

https://cointelegraph.com/news/pompliano-75-confident-bitcoin-price-is-100-000-by-end-of-2021?utm_source=Telegram&utm_medium=social

Anthony “Pomp” Pompliano — co-founder of crypto asset management firm Morgan Creek Digital Assets — predicts bitcoin (BTC) will hit $100,000 by the end of 2021.

In an interview with BloxLive.tv on July 2, he said the basic principle behind his forecast was classic supply-demand economics — still valid for the innovative digital asset class.

One of the largest drivers of continued price appreciation will be bitcoin’s halving — when mining rewards will be reduced by half — in May 2020, he said.

Meanwhile, most institutional investors aren’t even aware of this looming reduction in supply, he noted, suggesting that what will continue to drive the market from the perspective of sentiment will be a “continuation of trends we’re already seeing.”

These include increasing legitimization of the space, inflows of institutional capital, record trading volumes, and a climate of global instability that promotes recognition of bitcoin as a safe haven asset.

“Time is bitcoin’s greatest advocate,” Pomp added, and as these trends continue, he said his current 70-75% confidence level in $100,000 by 2021 will hit 90%:

    “In August of last year I predicted bitcoin would go down to $3,000 before returning to $10,000. It essentially did that [...] Now I think it’s going to $100,000, but [...] there will be more volatility: there will be parabolic runs like we saw in June and then there will be 20-30% drawdowns from that. Along the way a lot of people will call the top at these local highs — they’ll be incorrect.”

Elaborating on the question of legitimization, Pomp agreed with the notion that Facebook’s entry into the space with Libra is a bullish sign. “People may not like Zuckerberg, but no one thinks he’s dumb,” he quipped, proposing that:

    “Bitcoin will benefit from libra being a “gateway drug” for cryptocurrencies.”

It’s not so much a question of the token itself, he noted, but the digital wallet that will be rolled out alongside it, which will be a fantastic on-ramp not only for Libra, but potentially in future also other cryptocurrencies, tokenized securities, and even data.

Just yesterday, crypto merchant bank pioneer Mike Novogratz said he won’t be selling the next time bitcoin hits $14,000, anticipating its spectacular rally will see its value going much higher.
8  Comments

Right!!

Mate we already have this topic created on the same section.

Reference: Pompliano 75% Confident Bitcoin Price is $100,000 by End of 2021 (https://bitcointalk.org/index.php?topic=5161543.0)

You have to lock this topic now and further discussions should be on the first thread that created the topic on the reference.

So many predictions  that are rising from the past months until now,.but no one them cam prove that thier predictions is accurate and will happen on the year that theyve said.

Plenty of reasons for POMP to really 'PUMP' BITCOIN

Pompliano Apparently Holds 50% of His Wealth in Bitcoin, Explains Why

https://cointelegraph.com/news/pompliano-apparently-holds-50-of-his-wealth-in-bitcoin-explains-why

American investor and co-founder of Morgan Creek Digital Assets Anthony “Pomp” Pompliano explained his investing strategy and skepticism towards fiat currency in an interview with Cointelegraph on July 5.

When asked whether he thought that putting 50% of his wealth into the leading digital currency bitcoin (BTC) was a risky move, Pompliano said that risk is relative for every individual; however, he has a clear profile that he wants to undertake. Pompliano continued:

“I would make the argument that having 100% exposure to fiat currencies is a really bad idea. Right? Because if one of those fiat currencies that you have 100% of your wealth in either hyperinflates or fails, you've got a lot of problems."

Pompliano stressed the need for more diversification, that leaves the question of how much one should divert from a fiat currency into a digital currency.

Bitcoin has the most secure computing network in the work, according to Pompliano, and “its defense-first approach actually leads to a great offense and drastically increases the probability that bitcoin will one day be the global reserve currency of the world.” He further argued:

“For sure the nation state with the greatest military has always controlled the global reserve currency. [...] things that previously have allowed a nation-state to control the global reserve currency -- military superiority, economic sanctions etc. -- all the sudden are much less effective, and what I believe is going to occur is the country or the monetary system that has the greatest defense actually is in a position to dominate."

Earlier this week, Pompliano predicted that bitcoin will hit $100,000 by the end of 2021, explaining that the basic principle behind his forecast was classic supply-demand economics, which remain valid for the innovative digital asset class.

OP, in my opinion, it's not as "bold" as it sounds anymore. 6 digits is just a question of "when?", not "why, how, or will it?" anymore.

it's still mostly just fringe dwellers like us who believe that. fortunately, mainstream average joes are still skeptical as hell about bitcoin. even regular bitcoiners in the wall observer thread are skeptical of $100k.

and that's a good thing because down the road, it's the bears and skeptics of today that are gonna push prices to the moon.

Normally I do not like to give much thoughts to these kind of predictions because these analysts cannot back up their claims, and they do not even hodl bitcoins they just make statements like this for publicity. However this is an interesting case Anthony is holding bitcoins so I’ll read more into his analysis, but I doubt we will see bitcoins touching $100,000 by the end of 2021.

This guy makes a prediction almost every opportunity he gets. I'd actually like to say every opportunity, but I think he at least is on the interviewing end on his own podcast. Can't really blame him either, since everyone who talks to him asks him. Then again, he knows they're going to ask him and they know people lap it up, and guys like him know how to whip up frenzies.

At least some people stake their reputations on their predictions. I'm not sure he has.

We are in a new 4 year cycle. Check out Bob Loukas on youtube.
https://www.youtube.com/watch?v=5nZZNdGMOrs (https://www.youtube.com/watch?v=5nZZNdGMOrs)

I do believed that the market works on cycle. I mean with the block halving every 4 years, that is definitely a cycle. And yes I agree that its possible to hit 6 digits, last bubble was 2017, so there 2021 will be huge, so we might get to it or close to that $100K price.

The 4 year price cycles don't match with the halving events though. So, two seperate things.

I don't support this speculation.
If we don't bring more mass adoption of cryptocurrencies to the real world it would never reach that price. And right now, cryptos are mostly used in casinos and games.
Maybe he is another guy who tries to pump the market for his own profits.

I believe it will eventually reach $100,00 but it will take much longer.  I believe it will be around $50,000 by that time.

No one can predict the market accurate because this market is subjected to many factors and one of the factors can upturn all other factors. Another way I think the predictions are good for the healthy market is that this market is a speculative one and as such if we have many positive speculations like the one op mentioned there is no way the market will not try to achieve that and if there are negative like that one we have last year there is no way it will not go down. It deals with the mind and once our mind can be influenced positively through good prediction we tent to invest our funds inline with our mind.

I still can't believe that people are predicting on bitcoin price when there is literally nothing we can actually calculate the price
based off from. I mean the only reason bitcoin is at this price right now is the fact that people believe it worth this much, there is literally nothing else that can change the price but peoples opinion of the price. If they think bitcoin should be 100k then it will be 100k, if they think it should be 1k then it will be 1k.

We are the ones that decide how much bitcoin should worth, if a seller declines to sell anything under 100k and enough sellers feel that way and buyers think price is going to 100k and all of them buys accordingly then of course it will go to that price but same can be said for any price ever between 1 dollar and a billion dollar, there is no technical limit.

2021? Does he expect the bull market to last 3 years? That's even bolder than predicting $100k, because with how short the last bear market was, it looks that this bull run will also be short. There are more chances that $100k will happen in this year, because 2021 will likely be either bearish or will be in early stage of the bull market that will happen after the next bear market.

Also, 6 figure predictions aren't so radical, we had them during the last bubble, and they caused a lot of FOMO in the last months.

Charts are powerful tools if there isn't anything else to look into and get a value figure from. If the technicals improve, investors start to open up positions and follow whatever happens from there.

Gold is pretty much the same. Its industrial demand in no shape or form decides the direction of the price-- speculators just follow the charts until geopolitical drama makes safe haven investors take over for a while.

The moment Bitcoin's charts started to look better/healthier the price kept going up because it made investors stop being super bearish and pull the trigger and long Bitcoin.

That sounds intuitive and I admit there is some merit to what you're saying from a volume analysis perspective. However, I don't think it's always true.

I also think we sometimes underestimate the nature of Bitcoin adoption. This is a once-in-a-lifetime occurrence. An asset/product only experiences mass adoption one time. So although I am a technician and trader at heart, I have to remain open to the idea that fundamentals may not respect my classical technical expectations. If the 2011-2017 cyclical pattern was becoming too obvious, investors may be front running the pattern now. Maybe the pattern is accelerating.

Then the "average joe" will learn the hard way, and the "fringe dwellers" will grow in number like it did when Bitcoin reached its last ATH.

Shower thought. Did the Lightning developers make the millisat in anticipation of a 6 digit Bitcoin? 8)

Another exaggerated prediction made without solid analysis or with data that are just wrong estimated.
Anyway, I still think that Bitcoin users are too much obsessed with all kind of predictions and they pay too much attention on different so called experts instead of focusing on the market and they own experiences and estimations, too much focused on future and not enough on present time.

Sounds great but it's just another speculation from a person. Everyone can do it and make the same speculation. Even with depth analysis, we can't say it's a guaranteed. All we can do is wait for it and watch what's going on in the market. Also, prediction like this often comes out especially if the market is doing good.

exactly. that means we have lots and lots more upside. imagine when that switch gets flipped and average joes everywhere are finally buying in. bitcoin has tapped a limited niche among retail and institutional investors, cypherpunks, geeks. but we're heading towards that point where we will cross the chasm (https://en.wikipedia.org/wiki/Crossing_the_Chasm) and go beyond early adopters. that's when things could go into hyper drive.

I do not think Anthony Pompliano will hit the mark twice.  $100,000 BY 2021?  Kinda exaggerated for me.  No matter how skillful or talented we are at reading charts, I do not think that a person can tell a certain market price of Bitcoin in a specific date or time.  There is no basis on his price prediction why Bitcoin will go up this high. Anyway, as much as I disagree, I hope his speculation will come true. ;D

For now ill place him in the mcafee corner. Never say never but this is a bit of a far reach. We all can make a prediction on the halving and how it could play out.

I believe it's being crossed now. I read a study, from someone's blog, about millenials' preference towards investing in Bitcoin more than traditional investments.

Some of the might come here, and it's very important that we give them the correct information. Not the misinformation from franky1. 8)

I would like to point out that there have been people laughing at Tom Lee for saying bitcoin will be 15k in 2019 and we have crossed 13.8k once, so it is quite possible to reach 15k now and we look so close and nobody doubts we will pass that before 2020. Back when the price was 3.4 to 4.2k and Tom Lee went up and said it will be 15k and he believes it, everyone was like "thats more than x3 increase, get real" and nobody believed him but he turned out to be pretty right (even though we are not at exactly 15k, we are close).

So, to think that bitcoin will never reach 100k is just pure moronic, of course it will reach 100k, we may not know if it will be by the end of 2021 but it will definitely be close to it, who can argue that bitcoin CAN'T reach 100k by that time, I mean you could say its inprobable but you can't say its impossible.

If bitcoin hit $100,000 in 2021 there would have to be $90 million of new longterm investment into bitcoin every day.

$100,000 x 900 (new bitcoin created/day) = $90 million/day

Personally I think that is hopeful dreaming at best.

If you want to see cash flow data such as this check out my site:

https://www.amsinger.org (https://www.amsinger.org)

Much Love!

Aaron

I have read his article (https://offthechain.substack.com/p/bitcoin-is-likely-to-hit-100000-by/) and all I can see is that its more of a pump-up speech/article to motivate his current investors and attract potential ones to Morgan Creek Digital. He really didn't dive in too much on why he has predicted that Bitcoin will go up to 100,000$ by 2021 with how the article was made he had set up a lot of warnings on how his prediction isn't 100$ accurate which he can use later after his price prediction fails in the future. So I wouldn't be surprised if one day he will just say that "like I said before I am not 100% sure it will go up" or something similar to that. For newbies reading this it's never right to based your trades to predictions of someone who is popular as they are never 100% guaranteed to happen.

True dat

Miners never sell their coins immediately, especially because of how that would harm their own operation. Miners are hoarders, just check their mining addresses. If they are selling their coins, there is a queue of institutions and other players looking to buy up these virgin coins through private deals.

With more Bitcoin backed products and more institutional demand, there will be a massive shortage of spot supply. CME CEO even said that there aren't enough coins in circulation to please future buyers. They fill up that gap by offering cash settled products so that the lack of supply isn't going to affect their institutional traders.

Never disregard those who will sell Bitcoin or play the market such as these whales manipulators.  There is always a challenge everytime Bitcoin goes up.  Those who wanted to cash out their profit, and those who intentionally crash the market for their own benefit.  Remember the 25k BTC sales that make the price of BTC to go down more than $1k in just some hours?  The probem with this prediction is that they only focus on the positive aspect and disregard the possible hiccups and hurdles to hit another ATH.  Thus, reading this article without prior facts and reasons why Bitcoin will be $100,000, is kinda a wishful thinking for me.

That’s why i always make my own prediction, which is more realistic and no one will judge me. Another guy who made a huge prediction, let’s hope that those predictions made by big celebrities will happen this is for the benefit of whole market.

There is nothing wrong in making a wild prediction and keeping with yourself  :P Everyone can make their prediction and later say to the world that they predicted the price earlier and there is no doubt that the price of bitcoin will reach those valuation in the future, but getting to those valuation in the next rally is a huge task and as Wind_FURY (https://bitcointalk.org/index.php?action=profile;u=844914) pointed out it is a matter of when we reach those valuation and it is hard to pin point when we will reach those dream valuations. Realistically i do not expect the price to reach $100000 during this rally.

I believe the price can reach 100k earlier than that, in 2020, and before the halving.

The price can reach the previous ATH before December. Yes, it can go that fast, if we have a real bull run like the one from 2016-2017. Price is coming up earlier because of adoption, the market had matured and bitcoin dont have too much influence from the altcoin market now. ICOs are a thing from the past, few people trust those scammers now.

For six digits in 2020, we need the price to go to 20k before December. This could bring the price to 250k by the end of 2021.

The only thing that turns me sad about all of these movements, is that bitcoin will remain only as a store of value, and we will not be able to use it as a currency. I will have to convert to fiat currency, and my country is very primitive in dealing with profit, here to have profit and prosper is looked at as close to a criminal activity.

people who are guessing high prices but in a date after 2020 halving are guessing it based on previous  two performances that we had at the similar time after the halvings. each time starting with a huge drop that reverses upwards and has a big rise before the halving but doesn't reach the previous ATH and then rise to set a new ATH in the following year.

so if that is to be repeated $100k in 2021 seems legit.
but i also think as we move forward these cycles will become shorter and happen faster as the adoption speed is not a lot faster than before.

It's most likely that the previous cycle patterns won't hold true for long, maybe this run will have the same pattern, but after that things will start to change. Shorter cycles is one such scenario, but there are many others - we can have long bear trend when we'll have bearish cycles instead of the bullish ones - this can be caused by lack of real world adoption, we can have longer and weaker bullish cycles caused by maturity, bigger volumes and less Bitcoins being produced.

Yes, we could enter a bearish super cycle and the pattern will end.

Another possibility is the periodic bull/bear cycles (2011, 2013, 2017) end and we enter a phase of exponential adoption. This could be visualized as the vertical leg of an S-curve, as seen with other major technologies like telephones, televisions, internet.

Very true, many talking heads say insane numbers simply to get clicks or eyeballs, without knowing anything about the subject.

You've been saying things like that for years. Why would it be different this time? :)

I mean it's technically possible (that we've already entered a bearish super cycle) but there's just no evidence for it yet. I don't trust crystal balls either. Makes more sense to keep betting the trend. Higher highs, higher lows and all that.

I still prefer not going that far. 100k USD is a large amount which could produce more chaos in the financial market.

Protection. I believe that we still have a good protection in staying with a smaller value up until now. I would rather see it fall again and then just go back up rather than hitting a new all time high.
I am not as greedy as other people around here. But not also a hypocrite to say I dont need the money.

But with 6 digit price? Do you really think they (government) will just be silent about it?

ECB Money Printing Is ‘Rocket Fuel’ for Bitcoin Price, Says Pompliano

https://i.imgur.com/QFOmR0O.png

https://cointelegraph.com/news/ecb-money-printing-is-rocket-fuel-for-bitcoin-price-says-pompliano

“ROCKET FUEL: They’re going to cut rates and print money right as we march towards the Bitcoin halving. Buckle up. This will be wild 🚀”

I think this will not be like a short hype bull run followed by a stagnant period and another short hype bull run. I think this will be more like a big huge bull run all by itself. Its kinda like how some people say world war 1 and world war 2 was different wars but some people say they were the same war because the second one started because of the first one. With the same logic I would say this bitcoin bull run happened and now it looks like instead of going from 3k to 12k type of moves we have been going between 10-13 levels for a while now so when it goes up again people will say its another bull run but I believe that the next one (even if it reaches 100k) will not be a new one but the one that started and caused it early on from the 3k levels to this.

This news is good to buy us time to keep the bulls strong in the market. At least we will have some people now that would shift their focus from expecting anything from bitcoin this 2020 to 2021 because I could see that most people, there target has been this year/2020, and they might feel disappointed if 2020 comes and the market still did not offer them anything impressive, this could lead to panic sell and lots of fud news, but now that the focus is in 2 years’ time, it will be a whole lots of surprise to them if bitcoin now achieves the predicted value before the year 2020.

Right now, we need people to stop shortening as CEO Binance advised because it is not good for the market, which is why we have not been having a breakout. Money needs to stay a little longer in the market for now.

Its easy to say that price of Bitcoin will hit $100,000 by end of 2021. There's a lot of personalities who also say that Bitcoin will reach leaps and bounds by end of 2020 but the question is how and why will it reach $100,000 by end of 2021.They can hype it up but giving those bold predictions but for me I will not wait for that to happen, just trade and before you know it, you already accumulated more than your target if you trade wisely.

Many predictions spreading in bitcoin but we really do not know if this could happen. Possible to reach high price by year 2021 but no one can give an accurate price of btc. Well, if we are willing to have btc this time we can accumulate on what we can afford.

How you ask?
Limited bitcoin supply + fiat collapse.
Next question?

All of that is the only prediction, and we will see many predictions will happen in the future. Bitcoin itself can hit to any price, and we don't know how much the price will increase. But if the price can hit that price, then I am sure all people who own bitcoin will be happy, and they will make a lot of money from bitcoin. If everything has ready, bitcoin price will rally to the higher price, and that means, we can prepare to sell bitcoin.

Great, the more the demand of bitcoin, the lower the supply of it and that is what lead to increase in value, he needs to understand the concept, so if he is to do his calculation very well, he would even realize that bitcoin could even reach far more than 100k by that 2021 depending in the rate of adoption and how soon the supply can be reduced and at the same time, the price may still not get to that in tat 2021 which could also take another 5 years if the adoption rate is still low, because it is only adoption that usually cause stir for demand which will then turn to create opportunity for much more surge in the value. All we need to hope for now is not just speculation, but the practicality of it.

If they can influence the market very well, then we will have new investors.