Bitcoin price had soared past $73,000 last month, reaching a new all-time high (ATH) above $73,500. After reaching this ATH, it quickly retreated and first fell below $70,000. It then continued to trade in this region for a while, staying above the previous ATH of $69,000. Yesterday, it experienced a sharp decline to $64,500. Despite all this, key figures in the market continue to maintain their optimism for Bitcoin.
Famous Expert Comments on Bitcoin
Anthony Pompliano, founder of the venture capital firm Pomp Investments, has expressed a bullish stance on Bitcoin (BTC).
In an interview with CNBC, Pompliano mentioned that it’s hard to see how various triggers and historical similar events could lead to an increase in Bitcoin’s value.
We’ve reached a really important milestone before the halving – we’ve had the highest weekly, monthly, and quarterly close for Bitcoin. The last four times this happened, Bitcoin gained at least 300% in value for the remainder of the bull market. This doesn’t mean it will happen again. However, the fact that this has happened before the halving, a demand shock has occurred, and now a supply shock is expected to happen is significant.
Bitcoin is currently about 66% above its lowest level seen in January, which is considered to be $39,500 following the approval of an ETF, indicating a price of $65,944.
Famous Expert Comments on the US Economy
Anthony Pompliano also suggests that economic concerns and despair could significantly impact the price increase of Bitcoin and other cryptocurrencies.
The dollar has lost 25% of its purchasing power in four years. We have $1.1 trillion in credit card debt. There are 43 million Americans with federal student debt, averaging a balance of $37,000. People have lost hope, they have no hope. How do you live in a country where renting is cheaper than buying a home in 50 major metros?
What do you do when you have no hope?
I think if you go buy a lottery ticket, you have a one in 300 million chance. I think there are people now saying, “You know what?” A memecoin has better odds than a lottery ticket. I believe there are many people saying that Bitcoin is actually the safest bet.
