Saturday , November 28 2020

Battle can be $ 5 trillion by 2024, says Anthony Pompsiano

Anthony Pompiano of Morgan Creek Digital believes Bitcoin is in a unique position to experience parabolic growth over the next five years, with market capitalization reaching 5 trillion.

Bitcoin kit for parabolic growth

In a tweeting published on Monday (April 22, 2018), Pompino identified Bitcoin as the only $ 3 trillion dollar asset that seems to be up to 50 times over a five-year period.

Such an increase will show that BTC's market capitalization will exceed $ 5 trillion and lead Bitcoin to the same class as gold assets.

Currently, Bitcoin's market capitalization is just under $ 100 billion. The current positive mileage sees the highest ranked Cripp, which recovers some of the land lost during the bear market in 2018.

Currently Bitcoin enjoys a revival in 2019, which is more than 50% since the beginning of the year. The lion's share of this growth is in April at the price of BTC 00 gains about 35% from April 1, 2019.

Pompiano, the founder of Morgan Creek Digital and the famous Bitcoin permabull, is not alone in this belief. Earlier in April 2019, Chris Berniske of Placeholder, a venture capital firm, predicted BTC could raise over $ 1 trillion.

Many analysts grow with the belief that BTC has reached bottom and is set for a new cycle of parabolic growth. As reported by Bitcoinist A golden cross formed on Tuesday (23 April, 2019) on the price chart of BTC, further reinforcing the idea of ​​entering the battlefield into a bullish market.

BTC is a more mature asset compared to 2017

According to Pompliano, BTC's next bull cycle will include a more mature Bitcoin based on technical and market fundamentals rather than the hyper-oriented bich-cycle at the end of 2017.

IN Outside the chain The blog post, posted on Tuesday, Pompliano highlighted the significant improvements in Bitcoin's core principles. An excerpt from the post says:

Bitcoin is a highly volatile asset. Many people misunderstand it. But one thing is certain that the digital local currency continues to strengthen over time. As with anything important in life, ripening and mass adoption of Bitcoin will take time.

Over two years, indicators such as miners' revenue, transaction volume and portfolio numbers have increased. In the same period, Bitcoin has outpaced market returns such as S & P 500 and Gold.

Over the past two years, BTC has gained more than 450%, while profits for the S & P 500 and gold are respectively 19.9% ​​and 1.3% respectively. In 2019, it also outperformed traditional markets and commodities, including oil and gold.

Meanwhile, within the period under review, BTC has experienced a decline of 80%, but this is not surprising given that it is unique compared to traditional shares and commodities.

Can the Bitcoin market cap reach $ 5 trillion by 2024? Share your thoughts in the comments below.

Images via Twitter @APompliano, Shutterstock

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