Pomp Investments CEO Anthony Pompliano forecasts that Bitcoin’s price will shortly double to $138,000 due to a positive trend.
Bitcoin momentarily hit $69,210, surpassing its previous all-time high of $69,000, and is now trading around $67,423. Pompliano points to historical tendencies, claiming that Bitcoin doubled in 18 days or less following prior record highs.
According to Anthony Pompliano, Bitcoin is going to rise’far, much higher’ than projected.
Notably, this new high occurs before the Bitcoin halving event, potentially hastening its increase. The forthcoming halving will lower daily Bitcoin output from 900 to 450, altering market dynamics.
Bitcoin’s latest increase is ascribed to new US Bitcoin spot ETFs, which have attracted more than $8 billion since January 11. Pompliano expects three major new investors, including public pension funds and sovereign wealth funds, to enter Bitcoin ETFs.
Bitcoin’s market capitalization could someday overtake gold, establishing itself as a worldwide liquidity indicator amid fears about the dollar’s depreciation over the next decade. ETFs in the United States already contain more than $50 billion in Bitcoin, and they are expected to exceed gold ETFs.
Bitcoin ETFs are expected to outperform gold ETFs in terms of assets under management, according to MicroStrategy CEO Michael Saylor.
Bitcoin’s optimistic trajectory, combined with institutional interest and the impending halving, suggest that it has the ability to revolutionize global financial markets, possibly overtaking gold in market capitalization.
