“I am confident that Bitcoin will climb to 100,000 US dollars by the end of 2021,” said the expert in the video conversation.
“Pomp” sees the overall economic situation and the aftermath of the Bitcoin halving as the driving force behind the further soaring of the market-leading cryptocurrency, which could push it up to the price it had predicted
In particular, the reduction in supply due to the “halving”, in conjunction with the increasing demand from institutional investors, acts as a driving force for new record highs, as Pompliano believes.
Although 18.5 million BTC are currently in circulation, the crypto expert points out that this number does not reflect that a large part of it has not been moved for a long time. This in turn means that investors are holding onto their Bitcoin for the long term, which makes the available supply all the smaller.
“Bitcoin investors don’t sell their bitcoin,” as Pompliano sums up
When asked which strategy he would recommend for investing in Bitcoin, the co-founder of the crypto investment company Morgan Creek Digital advises newcomers in particular not to try to watch out for the upward or downward trend in the market. Rather, it points to the so-called average cost effect as the optimal route for simple but promising investments.
“Average cost effect is a very popular investment strategy because it works,” said Pompliano.
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