Thursday , June 24 2021

Opinion: Bitcoin finds "the bottom" at the level of & # 39; 85% below the historical maximum

Pompiano Anthony, the founder and the capital of the firm managing partner & # 39; risk Morgan Creek, believes that the first kriptoċinanza can & # 39; reach "bottom" of & # 39; 85% below the historical maximum. He said this on Monday in the squawk box on CNBC program.

"Everything ends x & # 39; nowhere 85% below the historical maximum, ie, about $ 3,000. We have come closer to it on the weekend, but we are probably going a bit", – Pompiano said, adding that he bases his prediction on his own experience in kriptokonferenza space.

During the transfer, the presenter noted that many investors lost confidence, and suggest that the likelihood of their return to Bitcoin post losses this year can & # 39; is low. In response, Pompiano said Bitcoin was overvalued when it reached the historic maximum, and correction b & # 39; her health is now being observed.

"Bitcoin was overvalued in & # 39; December 2017. This year, there were more sellers than buyers, so the price decline. But there are three things to keep in & # 39; mind. First, Bitcoin is platform & # 39; transaction. it is a secure platform in the world, and must have some value. it can not cost anything. second, is the most class & # 39; profitable assets in the last 10 years. over the longer an animal, he ran across S & P, Dow Jones and Nasdaq, etc. during this time, failed twice with & # 39; 80%, but over the past two years, grew by & # 39; 400 %. Thirdly, all obtained from retail investors ", Said Pompiano.

Having answered the question & # 39; one of the participants of the discussion on whether Bitcoin can repeat scenario & # 39; tulipmanja, the head of & # 39; Morgan Creek note that if in 2017 the buyers were predominantly retail, now financial institutions are beginning to connect.

"It is not often said, but most of them do not buy into bags. Buy in the OTC market, which is not transparent. So, now we see the leachate & # 39; retail investors", – added Pompiano

He also assured that Morgan Creek will not refuse to invest in & # 39; Bitcoin, but on the contrary, during the purchase price reductions, since "has very deep faith in & # 39; Bitcoin".

Previously, Anthony Pompiano said many fund & # 39; coverage kriptokonġità will soon be forced to announce the closure, while the ICO project will have penalties and bankruptcy. According to him, this is a natural process & # 39; cleaning & # 39; industry a "tourist".

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