Published
4 years ago on
December 21, 2019
- At the start of this year, we saw Bitcoins price at a low.
- We kicked off with a price of around $3,700, before climbing its way up, slowly but surely.
- Pompliano said in an interview that he believes the halving might increase the price of the crypto to $100,000 by December.
At the start of this year, we saw Bitcoins price at a low. Not the lowest of lows but it was still pretty heartbreaking considering the year prior, the leading cryptocurrency was coming off the back of hitting $20k at the end of 2017.
So in 2019, we kicked off with a price of around $3,700, before climbing its way up, slowly but surely.
Despite the peak being in June with a valuation of $13,880, the flagship currency has been on a downward slope ever since. Bitcoin has still been able to come out with good news though despite this. With the Bitcoin halving approaching next year, the supply of the newly minted coins will sink. This could have an impact on the crypto being valued more following the event.
Co-founder of Morgan Creek Digital and prominent Bitcoin proponent, Anthony Pompliano said in an interview that he believes the halving might increase the price of the crypto to $100,000 by December the following year.
Pompliano added:
“The halving will be a big moment for Bitcoin. I don’t think that the price will shoot up the day after it, but I do think that from the day we are right now, we will see Bitcoin’s price at $100,000 by December 2021.”
He further added the current state of affairs into consideration saying that “we are now in a bull market.” On top of this he claims that it will extend further into 2021:
“I think Bitcoin’s price will see a lot of volatility with days spiking up 10-12% as well as 30% crashes. Generally, though, it will continue to trend upwards.”
It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!
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