Co-founder at Morgan Creek Digital Anthony “Pomp” Pompliano has some thoughts on where the Bitcoin market is heading in the coming year.
In an exclusive interview with Cointelegraph, Pomp reaffirmed the Bitcoin price prediction he made back in 2019. “It’s going to be pretty aggressive. I am pretty confident in Bitcoin to $100K by the end of 2021.”
Together with favorable macroeconomic conditions, Pompliano sees the after-halving effect as one of the main catalysts that could drive Bitcoin toward that potential target.
Pomp believes that Bitcoin’s diminishing supply coupled with increased demand from institutional investors will drive Bitoin’s price to new highs.
Even though there are around 18.5 million Bitcoin currently in circulation, he acknowledged that this number does not take into account a large portion of Bitcoin that have not moved for a long time. This means the real available supply is actually smaller.
“Bitcoiners are not selling their Bitcoin”, he said.
When asked about the best strategy to approach a Bitcoin investment, Pomp dissuaded newbies from “timing the market”. Instead, he recommended dollar cost averaging as the most prudent and rewarding way to invest in Bitcoin.
“Dollar cost averaging is a very popular, timeless financial kind of approach because it works”, he said.
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