Bitcoin crashes to $59.5k, Pompliano shows a very big picture for Bitcoin’s future post-halving
Anthony Pompliano shared his opinion on the latest correction in the trade price of Bitcoin and said that no other asset has outperformed Bitcoin.
The current trade price of Bitcoin (BTC), the top crypto asset by marketcap, is $61,583 & this trade price is 13.22% down over the last 7 days.
On 17 April 2024, the trade price of Bitcoin crashed to $59.5k trade price, which was a more than 7%+ downfall in the trade price of Bitcoin in a single.
All these big corrections happened because of two factors, one is the war efforts between Israel & Iran and the second factor is the upcoming Bitcoin halving event.
Popular Bitcoin proponent & influencer Anthony Pompliano talked about the recent corrections in the trade price of Bitcoin, in an interview with Fox Business.
He reminded me that Bitcoin was trading at around $8,000 price during the last Bitcoin halving and now after 4 years, just before halving, Bitcoin is trading at a $60,000+ trade price.
Furthermore, he said that no other asset outperformed Bitcoin and also explained that volatility in the trade price of any asset is a usual thing.
He said that we can see that the trade price of the big financial assets facing a downfall & high volatility because of the tensions in the Middle East.
Pompliano also said that Bitcoin and Gold hold more sound principles because no one can go and create more of them.
Pompliano advised traders to buy assets they prefer: gold for those worried about decline, and Bitcoin for those aiming to increase purchasing power. He mentions the potential sell-off after the upcoming halving but advocates for long-term Bitcoin investment.
In response to Pompliano’s opinion, popular Bitcoin critic Peter Schiff said that big retail investors already invested their money in Bitcoin and now additional inflow of money in this market will be possible by the Wallet Street investors but he believes that the Wall Street investors are going to sell their holdings.
Read also: Trust Crypto wallet urges Apple smartphone users to disable “iMessage”
