Anthony Pompliano, cofounder of the crypto management company Morgan Creek Digital Assets, has said that the largest cryptocurrency by market cap will reach $100,000 by the end of 2021.
He said on July 2 during an interview with BloxLive.tv that, in his opinion, bitcoin price could jump to as much as $100,000 only based on supply and demand principle.
According to him, BTC price will enjoy an important rally when the next bitcoin halving, scheduled for May 2020, takes place. In that moment, the reward for mining a block will be divided into 2.
However, till that happens, Pompliano believes the growth will be mainly driven by the regulation of the sector, the arrival of institutional capital, the increased trading volumes as well as international tensions, which make investors consider the crypto as a safe haven.
Pompliano has not always been so optimistic about the crypto. For example, in December last year, he suggested bitcoin could fall below $3,000. Something must have changed to make him change his mind so drastically.
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