Anthony Pompliano, CEO of Morgan Creek Digital, has predicted that the value of Bitcoin will break through the $400k ceiling in the long-term. He feels that it will be a normal fallout of the perceived value of Bitcoin by investors against assets like gold and the dollar.
Bitcoin has always been notoriously volatile in the spot rate on cryptocurrency exchanges. Traditionally, fluctuations are measured by the Volatility Index but there is the exclusive Bitcoin Volatility Index for this cryptocurrency and monitors Bitcoin volatility by market cap over different periods.
Historically, the value of Bitcoin has forever been volatile. There are several reasons for this. Sometimes it is driven by uncertainty over Bitcoin’s future value and at other times, by speculation of how holders with investments over $10 million might liquidate their assets.
Currently, Bitcoin is going through a bull run, trading at $11,581 with a market cap of about $214 billion. Pompliano feels that it is not going to plateau out soon. Prices will continue to rise exponentially eventually breaking through the glass ceiling of $450,000 in the long-term with a market capitalization of $8 trillion. He has predicted that Bitcoin prices will continue to rise and will ultimately be treated as digital gold, a rare and one of the world’s costliest metals.
In an interview with the famous podcaster Peter McCormack, he exudes confidence about the rise of Bitcoin. “You know there are people who debate what the size of the gold market is but let’s just use easy numbers. Let’s say that it’s $8 trillion. That puts Bitcoin at, depending on how many are lost or stolen, $400,000 to $450,000 today. Do you think that Bitcoin is going to be the equivalent of the gold market? I don’t. It’s better. It’s going to capture more market.” He adds that it could take 50 years before Bitcoin hits the $400K level.
Pomp, a well-known proponent of Bitcoin has made another interesting forecast , he is sure that Bitcoin levels will hit $100,000 level by late 2021 that is approximately a year from now. It has to be noted though that gold price is surging simultaneously and has hit a high of $2,000 for the first time on Aug 4.
At the moment investors perceive Bitcoin as a digital equivalent of the analog asset gold. When Bitcoin exceeds gold, the market cap as well as the price of Bitcoin is bound to soar beyond imagination. Therefore, Many investors & crypto supporters are investing their money in Bitcoin and making huge profits from that. To make a huge profit from Bitcoin or other cryptocurrencies, you need to choose a good trading platform. A platform like Bitcoin robots can lead you to make huge profits from Bitcoin. To get more knowledge about the same you can visit the Bitcoin Aussie System Website. It is one of the most authentic and safest Bitcoin robots.
