Cryptocurrency investor Anthony Pompliano, who had previously predicted the downfall of BTC against the USD earlier in November has gone on to express his beliefs on the future of the world’s most valued cryptocurrency by market capitalization.
Anthony Pompliano believes the bears are in.
Pompliano, the founder of Creek Morgan Digital, made this known in an interview on CNBC’s “squawk box” show. Despite the fact that BTC has managed to stay afloat throughout the unsteady market patterns, even going as far as hitting a trading price of $4200, Anthony believes that with the current trading price of BTC totaled at the $3000 level, it is expected to go “lower”.
While cryptocurrency users may be quick to think that Pompliano is anti-bitcoin, this is not the case. In fact, Pompliano had previously warned traders about the dangers of traditional banks investing in cryptocurrency. He further advised traders to invest at the most uncomfortable times.
In his words;
“Most people want to be a peacetime investor but would be better off being a wartime investor. The best investments are made when you’re most uncomfortable.” –
While Pompliano wants traders to brace themselves for the perceived bearish trends, his investment strategy suggests that bearish seasons are also the best time to trade.
Comparing the downfall of the stock market to Bitcoin, Pompliano had this to say ;
“I definitely agree there are some psychological components at play as the stock market pulls down”.
Earlier this month, Pompliano also revealed that the manager of Morgan Creek Digital is of the opinion that Digital Asset Index Funds will increase in value and outperform the S&P 500 in the next decade.
The deal was further sealed with a $1 million wager. Warren Buffett, who has shown himself to be a strong opposer of cryptocurrencies, had engaged in a bet similar to this in 2017. Not only did he predict that the S&P 500 would outperform five hedge funds, but he also won the $1 million bet and donated it all to charity.