- Renowned cryptocurrency investor Anthony Pompliano has shared his insights on the crypto market.
- Despite short-term volatility, Pompliano asserts that Bitcoin has continued to grow since the start of the year.
- He also highlighted that Bitcoin’s 200-day moving average has reached an all-time high.
Anthony Pompliano, a well-known figure in the crypto investment world, shares his optimistic outlook on Bitcoin’s growth and future prospects.
Pompliano’s Take on Bitcoin’s Performance
Anthony Pompliano recently appeared on CNBC’s Squawk Box where he discussed cryptocurrencies. He acknowledged that while Bitcoin’s performance might seem turbulent in the short term, it has continued to grow since the beginning of the year. He also defended the recent halving price movement, arguing that it occurred as expected.
Historical Performance and Future Expectations
Looking at Bitcoin’s historical performance, Pompliano noted that Bitcoin generally rises by 19-20% before halving but remains stuck in the 1-2% band in the months following the halving. He encouraged investors to think medium-term. Reiterating his belief in the continuation of the upward wave, he emphasized that his future expectations are stronger than ever.
Bitcoin’s 200-Day Moving Average Hits All-Time High
In addition to his general observations, Pompliano pointed out that Bitcoin’s 200-day moving average has reached an all-time high. He also mentioned that GBTC saw its first net entry in 78 days. Highlighting that Bitcoin has surged 800% since its previous halving, he stressed that long-term investors always win. In contrast, he stated that the purchasing power of those who have invested in gold over the past five years has dramatically eroded.
Conclusion
In conclusion, Anthony Pompliano’s insights provide a positive outlook for Bitcoin’s future, despite short-term volatility. His analysis and historical perspective offer valuable insights for both current and potential investors in the crypto market.
