Anthony Pompliano, a founder of Morgan Creek Digital Assets, believes that the bottom price of Bitcoin it had last week can go much lower in the closest future.
Pompliano is not only a company founder but also an active user of social media websites where he leaves comments about crypto market. When he was interviewed at the end of December, he explained that BitCoin will reach its market bottom as soon as its price will fall below $3,000. He admitted that that drop would happen rather soon.
Pompliano’s November prediction about the drop of plunge for BTC/USD to the point of $3,000 turned out to be true at the beginning of December.
However, during this month the crypto market has experienced an increase in prices. Bitcoin, for example, has restored its value up to $4,300 but then returned to its minimum of $3,782. At the same time, there were cryptocurrencies that managed to multiply their USD value by two during these days, and Bitcoin Cash (BCH) and Ethereum (ETH) were among them.
Pompliano did not agree with the assumption that there was an impact on the price of Bitcoin from traditional as well as FAANG stocks. Similar to the crypto coins, there was a tumble of both types of stocks after Christmas.
However, Pompliano admitted that there might be some psychological component at play because there is a pull down from the stock market. He also noted that the correlation with S&P 500 was equal aero and was close to it correlating with the dollar index.
A week earlier, one more prediction about the destiny of Bitcoin was made by an experienced trader Tone Vays, who supposed that it would fall down to the point of $1,300 and maybe even lower.