Bitcoin Faces Correction Before Potential Surge to $100,000, Says Pompliano

Bitcoin is expected to undergo a correction followed by a rise to $100,000 within 12–18 months, with the potential to reach $150,000–200,000. This was stated by Anthony Pompliano, founder of venture firm Pomp Investments, during a CNBC broadcast.

“At the moment, the likelihood of a decrease is quite small. […] I don’t see any reason for the rate to drop below $50,000. I think we’ve already crossed that Rubicon,” the entrepreneur stated.

The expert attributed the sharp sell-offs on April 12–13 to a lack of fresh dollars due to bank closures and algorithmic reactions to international tensions.

In an interview with Fox Business, Pompliano noted that Bitcoin’s monetary principles will make the asset more attractive, especially after the upcoming halving of miner rewards.

Despite all the volatility, Bitcoin is up 8x since the last halving.

Ignore the noise of short-term price movements.

Sound money principles in digital form has been valued at more than $1 trillion by investors globally.

Great to join @cvpayne today on Fox Business. pic.twitter.com/jMIJjeLDTR

— Pomp ? (@APompliano) April 16, 2024

“After the previous halving, the first cryptocurrency increased eightfold despite volatility. Name any other asset that has shown such high performance over a four-year cycle,” he pointed out.

Pompliano recommended buying gold for those seeking protection against a downturn, and the first cryptocurrency for those looking to increase their purchasing power.

“The digital version of a product is always bigger and more valuable than the analogue. Thus, Bitcoin will one day become more valuable than precious metal,” he predicted.

The expert disclosed that he has invested about half of his personal funds in the first cryptocurrency.

In 2023, Pompliano described Bitcoin as the most disciplined central bank in the world.

Earlier, experts highlighted the importance of maintaining the $60,000 support level for the digital gold’s price.

Coinify CEO Rikke Staer suggested that Bitcoin’s price dynamics post-halving will follow the “buy the rumour, sell the fact” principle.

Back in April, in honour of the halving, the ForkLog team held the AllTimeHalf 2024 online forum featuring developers, entrepreneurs, enthusiasts, and visionaries. Recordings are available on the YouTube channel.

We also recommend exploring the event-related research by CoinGecko and Binance.