The crypto market turned red blood yesterday. Virtually no cryptocurrency has survived the collapse of the Bitcoin price without loss of value. This happens on the crypto market several times a year, sometimes even several times a month. These are short-term trends that have little impact on the long-term evolution of Bitcoin prices. Anthony Pompliano, Morgan Creek Digital Assets partner, also sees it and explains why the price of bitcoin will reach more than $ 100,000 in the next few years.
Anthony Pompliano is a familiar face in the crypto scene and especially bitcoin. In an interview with Yahoo Finance, Pompliano explains why Bitcoin will reach new price records over the next few years, citing several reasons. He also talks about Facebook's Balance and Calibra and explains the impact it will have on Crypto Space.
Bitcoin Race 2021 to more than $ 100,000
When asked how the Bitcoin course would develop, Pompliano replied:
I think by the end of 2021 we will see that it exceeds $ 100,000. The most important thing to remember about Bitcoin is that it is a locked-in asset, which is why the economics of supply and demand apply. If there is an increase in demand, you will see how the price goes up.
Pompliano sees the next big hurdle for the $ 20,000 Bitcoin course and explains why this price goal is so important:
$ 20,000 is a big problem. Bitcoin will reach a new record since its breakthrough. I think it will really appeal to people … but I do not think we will get $ 50,000 or $ 100,000 of $ 12,000. I think it will take 6 to 24 months.
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Facebook Calibra will provide the great adaptation
In recent months we have been observing the increased demand that Pompliano was talking about. The price of bitcoin has almost quadrupled since the beginning of the year. Facebook's Stablecoin Libra project is not insignificant. The social media giant has been able to empty a large number of new investors in the cryptography market with its announcement. But what impact will Facebook's Balance and Calibra have on the Crypto Space in the long run?
It's really very optimistic for digital currency in that the most important part of the ad is not Libra, but the Calibra. This is the digital wallet that Facebook is supposed to give to hundreds of millions of people, even billions of people.
I think this wallet will one day support Bitcoin, Ethereum, symbolic values and even data. So, for example. their medical records must be kept in this wallet. I think this is a very important moment when we give hundreds of millions of people the opportunity to hold cryptocurrencies.
Bitcoin price rise due to fundamentals
The basics of Bitcoin are better than ever. Not only has the price of Bitcoin rebounded in recent months following the collapse of the BTC price, but the general interest for Crypto and Blockchain has also increased. Interested parties are also often institutions that invest large sums in Bitcoin and Co. In addition, Bitcoin's inflation will be halved in less than a year, thereby reducing supply.
In addition, Facebook plays Crypto Space in the cards and attracts many new small investors to the market. As you know, most people come in when it's already too late. Once the price of bitcoin has reached $ 20,000, the return will be perfect and the media will certainly contribute a lot to the next FOMO (Fear Of Missing Out). Of course, no one can guarantee an increase in the price of Bitcoin, but the fundamentals speak for themselves.
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