Pomplian: Bitcoin price to rise in response to increased demand
According to Anthony Pompliano, Bitcoin’s price will rise as more institutional investors enter the crypto market.
The last few weeks have been a real madness for the crypto world. Even though almost everyone in the crypto community was expecting Bitcoin’s price to rise. Few expected it to be as big as it has been so far. A trend that, for the time being, doesn’t seem to be changing. Well, as Anthony Pompliano says in today’s Tweet, the price of Bitcoin Up review will rise in the face of increased demand:
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Bitcoin will go up with the demand
Unlike previous bullish rallies in the price of Bitcoin, the latter is different. The reason behind this is that, unlike the 2017 bullish rally or the multiple increases experienced by BTC throughout its history. This last big rally has not been essentially driven by individual traders.
On the contrary, the big push in demand that has raised the price of Bitcoin has come from institutional investors. This is as large investment firms around the world begin to accept the opportunities that arise from the Bitcoin acquisition. They’re launching themselves into the market in an attempt to buy the cryptomoney before its price finally settles.
For Anthony Pompliano, the price of Bitcoin will rise in the face of increased demand. Source: CoinDeskFor Anthony Pompliano the price of Bitcoin will rise in the face of increased demand. Source: CoinDesk CoinDesk
This is an attitude on the part of large investors that is unlikely to change in the near future.
This means that a substantial increase in the demand for Bitcoin can be expected in the coming years. Something that, coupled with the unwillingness of BTC holders to sell their crypto currencies just when the price is rising rapidly. It will probably lead to an increase in its price, as Anthony Pompliano defends through his Twitter account.
„Reminder: Bitcoiners don’t want to sell their Bitcoin, and now institutions want to increase their exposure to the assets by billions of dollars. The only way to accommodate everyone is for the Bitcoin dollar price to appreciate quickly.
If Anthony Pompliano’s position is correct, we could see an even sharper increase in Bitcoin’s price in the coming months. As long as demand from institutional investors can be sustained long enough.