It’s almost 2019, a new year for cryptocurrencies and its enthusiasts need to lay hold of any information they can get. Many reputable investors in the niche have made predictions and so has Anthony Pompliano. According to the Morgan Creek Digital Assets founder, Bitcoin still has a lower way to go after its fall from $4,000 earlier this week.
Anthony Pompliano Says BTC May Go Lower $3,000
Anthony Pompliano revealed his stance on YouTube during an Interview with a media Outlet. He was asked what will take this price higher and he said it was going under $3,000. In his own words, “Short-term, I actually think we have lower to go”. Based on this, one can expect that the virtual currency will only stabilize after it has gone below the $3,000 range it has been for some weeks now.
While this is mere speculation since no one actually has full control over how the market operates, Anthony is noted to have predicted in November, that Bitcoin will hit the $3,000 mark soon. And this was the case when we were ushered into the month of December. So, will his prediction this time also come true? One can only sit this one out.
Bitcoin Does Not Correlate With the Stock Market
The founder was also asked if crypto is supposed to fall off the market, correlate with the market, or correlate at only some degree?. He said, “Bitcoin is a non-correlated asset” when one compares it with the stock exchange market. Nevertheless, FAANG (Facebook, Apple, Amazon, Netflix, and Google) had also taken a toll on their prices. He further added that psychological components also determined the falling prices in the stocks market.
Another response that may have piqued people’s interest came after he was asked if investors are not going to look at all the recent happenings and conclude that Bitcoin is a fraud. Anthony says this won’t be the case since Bitcoin is transparent, driven by math, and software code. As such, it meets up with the transparency and fairness that may be lacking in the normal financial market.
Crypto Enthusiasts Explains How he Determines the Value of BTC
On November 25, BTCNN reported that Anthony Pompliano had explained how he determines the value of Bitcoin and generally, spoke about the bear market. Here, the crypto enthusiast pointed out that despite the falling rates, there were people out there who were still trading and making profits.