Published
1 week ago on
April 18, 2024
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.
#Bitcoin saw correction by 7.4% in a single day on 17 April 2024. pic.twitter.com/3DcktKc7em
— Bitcoinik (@Bitcoinikdotcom) April 18, 2024
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.
My nephew @APompliano just told #CNBC that hard-core Bitcoiners are already fully invested and that any new money coming into #Bitcoin will have to come from Wall Street. But I think Wall Street is about to start selling. That's a recipe for a Bitcoin crash. Buckle up #HODLers!
— Peter Schiff (@PeterSchiff) April 17, 2024
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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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