Bitcoin Is Likely to Hit $100,000 by End of 2021 Says Anthony Pompliano

[Prateek_sharma]

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 reach $100,000 by the end of 2021? What’s your BTC price prediction?

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[mich]

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



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

[Prateek_sharma]

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



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!!

[sunsilk]

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

Reference: Pompliano 75% Confident Bitcoin Price is $100,000 by End of 2021

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

[pealr12]

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.

[mich]

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.

[Wind_FURY]

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.

[figmentofmyass]

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.

[Juggy777]

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.

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.

[buwaytress]

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.

[Leon83]

In 2 years anything might happen to be honest.. But the price is two high. In recent couple years we see 0 growth long term. Don't know why they expect something now

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

[peter0425]

In 2 years anything might happen to be honest.. But the price is two high. In recent couple years we see 0 growth long term. Don't know why they expect something now

We are in a new 4 year cycle. Check out Bob Loukas on youtube.
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.

[Leon83]

I do believed that the market works on cycle. I mean with the block halving every 4 years, that is definitely a cycle.

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

[Naida_BR]

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 reach $100,000 by the end of 2021? What’s your BTC price prediction?

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.

[green547]

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.

[arpon11]

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.

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.

[guoyu78]

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.

[hatshepsut93]

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.

[BitHodler]

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.

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.

[exstasie]

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.

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.