The co-founder and partner at Morgan Creek Digital, Anthony Pompliano (the Pomp) has recently given his next price target for Bitcoin.
This one is VERY bullish.
He has been right in his predictions before though so don’t laugh it off just yet.
On August 24, 2018 I called for Bitcoin to drop 50% to $3k before rallying back over $10k.
That call was deadly accurate and allowed Morgan Creek Digital to buy the dip.
Here is my next price target.https://t.co/KzhRO7u2Vi
— Pomp 🌪 (@APompliano) June 24, 2019
In his Off The Chain email newsletter, Pomp writes:
“This prediction of a ~50% drop in Bitcoin’s price was met with plenty of skepticism, but it ultimately proved to be accurate. Bitcoin proceeded to drop under $3,200 in December 2018 before recovering and shooting past a $10,000 price this past Friday.”
So by the end of 2021, Pomp thinks that BTC could reach $100,000 on the basis of “supply/demand economics”, with demand increasing and supply contracting.
The newsletter states:
“The increase in demand for Bitcoin will come from a variety of sources and will be due to various factors. These include large scale institutional adoption, multiple ETF and retail product approvals, increased global instability, lack of performance in traditional markets, and the continued manipulation of markets, economies, and currencies by governments around the world.”
Trillions in value
Across the pond at Online Blockchain plc (trading on London’s stock exchanges), the chief executive, Clem Chambers says that Bitcoin is set to add “trillions in value”.
“This is no difference to the rally and bubble of 2017. In both cases it is driven by the blockchain revolution set to add trillions in value to the world economy.”