One of Bitcoin’s fans, Anthony Pompliano, suggests that its price would be US$ 100,000 in 2022. Bitcoin’s current demand is exceeding its supply. Low-interest rates due to macro-economic conditions are fuelling the prices of cryptocurrency.
In the word of a huge Bitcoin fan, Anthony Pompliano, Bitcoin would be traded for US$ 100 K in 2022. He said that he would not be surprised if his prediction would come true.
Bitcoin recently got to a point where it was traded for over 19,389, which was the highest price in three years.
On Wednesday, CNBC was interviewing this Bitcoin fan when he said that the current demand of Bitcoin had exceeded its supply. He added that the lowest rates of interest caused due to prevailing macro-economic conditions would likely to favour cryptocurrencies. He said that these conditions will provide rocket fuel to cryptocurrencies and subsequently their prices will go tremendously high.
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Furthermore, Pompliano said that currently the Governments of the world are expecting a huge rise in inflation. Since the inflation applies only to fiat currencies and not crypto therefore this will further increase the prices of cryptocurrencies.
However the investor had not ignored the possibility of the end of Bitcoin’s Bull-Run. He told that according to him there could be two reasons which could potentially end this Bull-Run. The first reason he told was relating to an inherited problem with most of cryptos. He said if a bug or a flash-crash takes place, then that would be the end of Bitcoin’s Bull-Run. Second reason he attached with the geopolitical scenarios which could jeopardize this Bull-Run.
Yet, to the contrary, only a day after Pompliano’s predictions, Bitcoin had plunged enormously. It had gone low from US$ 19,000 plus to 17,331. However, as explained by Pompliano, both of his reasons were lacking in Bitcoin’s low.
Many were thinking that before the end of 2020, Bitcoin would surpass US$ 20,000. However, as of today it went low approximately by US$ 2000.
It may not be the end of Bull-Run because this is what usually happens to cryptocurrencies all the time. One day it is up and the other day it is down.