Bitcoin Is on Its Way to $100,000 By 2021’s End, Says Leading Crypto Voice Anthony Pompliano
- The Morgan Creek founder thinks that Bitcoin is on its way to $100,000 in the next 30 months.
- Presently, Bitcoin is sitting between $10,000 and $11,000.
Bitcoin has gone through some drastic rises and falls through the last decade that it has been in the world. Nearly reaching $20,000 at the end of 2017, many people abandoned the token when it fell the following year.
However, Morgan Creek founder Anthony Pompliano still has faith in the asset, even stating that it would soon reach $100,000 in value.
Imagine a world where central banks cut rates and print money (yes, it’s called QE) and Bitcoin hits $100K in under 2.5 years time!! @APompliano says it WILL happen. Find out how. 👇🏼 pic.twitter.com/dE5blFvDWM
— Julia Chatterley (@jchatterleyCNN) August 1, 2019
Pompliano’s prediction is fairly conservative for this Bitcoin proponent, since he believes that the Bitcoin halving next year will coincide with the Federal Reserve’s decision to print new money.
When the halving happens, the reward will drop from 12.5 BTC to 6.25. In the past, the halving has often correlated with the start of a bull run, rather than the end.
Sourced from CCN
While this projection isn’t guaranteed, it suggests that the big fans of Bitcoin may want to lay low before they fully invest. CCN states that the biggest moves from Bitcoin often occur when few are watching, which Pompliano states will make for a smooth transition from one order of magnitude to the next.
“Well look, in 2017 Bitcoin went up 20x right so it’s a hyper-volatile asset. We’ve seen it go up 20, 30, 50x at times. We’ve also seen it draw down over 80% now three times.”
Many analysts seem to agree with Pompliano’s predictions. PlanB, a quantitative analyst, created a stock-to-flow model, reflecting information about Bitcoin that is dated from 2009 to 2012. This model correlates with the predicted prices from 2013 to 2019 with accuracy of up to 99.5%.
#bitcoin 2012 Stock-to-flow model still works!
S2F model made with 2009-2012 data (only 4 data points, before any halving – green line) correctly predicted 2013-2019 (7 out-of-sample data points + blue line) with 99.5% R2. Current prediction: 2021 $100K, 2025 $1M🚀 pic.twitter.com/NX8djTxrA1
— PlanB (@100trillionUSD) July 18, 2019
Anyone in the cryptocurrency industry, or even the traditional stock market, knows that nothing is certain until it happens. However, if this model maintains the same level of accuracy, it is realistically possible for Bitcoin to reach $100,000 before the end of 2021. Anyone that is willing to hold on for the ride until 2025 may even see a reward of $1 million a coin.
Pompliano brought up the fact that the stock-to-flow for Bitcoin is much like gold’s but with more to gain.
Explaining, he said,
“[T]here’s existing supply and you go ahead and just continue to add it. The difference is with Bitcoin we know exactly how many are getting created. 1 800 Bitcoin are going to be created today. The second thing is we know the total supply available.” After all there’s a finite supply of 21 million BTC, so there’s no question of how much is available.
Presently, Bitcoin is priced at $10,459.86, gaining 1.19% in value through the last 24 hours.