Bitcoin Price Predicted to Rise for Two to Three Years by Anthony Pompliano


Bitcoin Price Predicted to Rise for Two to Three Years by Anthony Pompliano
Contents

<>Morgan Creek‘s Anthony Pompliano, who’s probably one of the most vocal Bitcoin proponents, recently appeared on CNBC to discuss the sudden surge of Bitcoin. During the heated conversation, he tried to convert a crypto hater.

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Bitcoin goes ballistic   

Pompliano explained that we are currently seeing record-breaking volumes on CME and cryptocurrency exchanges, which means that both institutional and retail investors are keen on crypto.

Bitcoin’s scarcity and the ongoing US-China trade war also serve as the catalysts for the bull run. As reported by U.Today, Bitcoin is the best-performing asset this year (by a huge margin).

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Dealing with crypto critics

The quality of their discussion drastically decreased when Shark Tank's Kevin O'Leary started voicing the most basic talking points of your typical cryptocurrency naysayer. O'Leary claimed that Bitcoin has no intrinsic value, but that pertains to the US dollar as well, as Pompliano was quick to point out.

Pompliano makes it clear that Bitcoin is still the king, dismissing the possibility that it can be overtaken by any of its competitors.  

“The reason Bitcoin is getting so much attention – it’s the best-performing asset in the last decade. And the second thing is, the institutions are coming in, because Bitcoin is actually a better store of value, it's more transparent and more secure.”

O'Leary kept calling crypto ‘garbage,’ but Pompliano is still certain that he will change his opinion on crypto.

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A three-year-long bull market?

When asked by CNBC’s Melissa Lee when Bitcoin is going to retest its past highs, Pompliano said they’d hit the bottom of the bear market, and now they are entering the bull market. Historically, it starts about a year before the halvening takes place (investors realize that Bitcoin is becoming less scarce), and it wouldn’t surprise him if the bull market lasts up to two or three years.

Cover image via www.cnbc.com
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Trading Expert Predicts Enormous Gains for Ripple’s XRP Price


Trading Expert Predicts Enormous Gains for Ripple’s XRP Price
Contents

Ripple’s XRP could be on the cusp of another major price rally, according to trading expert Crypto Thies. Based on his technical analysis, the XRP price could witness “enormous gains” in the short-term.

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XRP takes a hit  

Piers Morgan’s catchphrase “One day you’re cock of the walk, the next you’re a feather duster” is very relatable to the cryptocurrency market. After stagnating for weeks, the price of XRP suddenly surged by more than 43 percent USD-wise on May 14-15 once Coinbase opened up trading in New York. XRP was the best-performing cryptocurrency in the top 10, but the rally didn’t last long.     

On May 17, XRP recorded an intraday low of $0.359 after its price tanked by more than 25 percent. All major altcoins collectively took a hammering on Friday after the Bitcoin price suddenly experienced a 20 percent drop, which was allegedly caused by market manipulations.

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A dicey situation

The blow was too hard for XRP to rebound. At the time of writing, it is trading at $0.369 after yet another 3.32 percent price decrease over the last 24 hours, according to CoinMarketCap data.  

Now, XRP is facing its make-it-or-break-it moment. If its price breaks below the $0.340 level, things could turn ugly for Ripple’s native token with its next downward target being significantly lower. Trading expert Peter Brandt earlier suggested that a huge price drop would be almost inevitable if that’s the case.

Cover image via u.today
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