Pomp Uses the Crypto Cheerleader Pom-Poms, Says Bitcoin Investors Will be Rewarded Handsomely
Bitcoin’s price volatility has more than tripled in the past month as BTC/USD has made an impressive push above the $5,000 mark. Currently, the volatility stands at 3.54 percent, the highest in 3 months. However, the top crypto’s price volatility has actually been declining over the years. In fact, 2018 was one of the least volatile periods in Bitcoin’s history despite an 80 percent drop in USD value.
To talk about this recent phenomenon, Anthony Pompliano aka Pomp, the co-founder and Partner at Morgan Creek, wrote a blog post titled
‘Bitcoin fundamentals continue to strengthen.’
Bitcoin's fundamentals continue to strengthen. Don't be distracted by the noise.
Those with the greatest discipline and patience will be rewarded handsomely.https://t.co/52dZiARGiI
— Pomp 🌪 (@APompliano) April 23, 2019
He showed graphically many fundamentals of Bitcoin getting stronger over time, like transaction per day, cost per transaction, hashrate securing Bitcoin’s network, computing power and more.
One pattern that traders and analysts alike have been closely watching is the “golden cross” that Bitcoin is currently en route to forming. One analyst believes that the formation of this pattern will lead to massive volatility that could either send Bitcoin’s price surging upwards or reeling downwards – depending on whether bulls or bears take this opportunity to strike.
— b.biddles (@thalamu_) April 19, 2019
He ends his blog post saying:
“Bitcoin is a highly volatile asset. It is misunderstood by many. But one thing is certain, the digitally native currency continues to strengthen over time. As with anything important in life, the maturation and mass adoption of Bitcoin will take time. Those that have the patience and discipline to stick around will be rewarded handsomely.”
Fundamental analysis remains the best means of assessing Bitcoin’s long-term potential. The positive indicators since 2019 seem to indicate that the current price rebound can be linked to Bitcoin’s improving fundamentals. Transactions are cheaper now and daily transactions are close to their all-time high. The network is also more secure than it ever has been before.
If we filter out the noise around Bitcoin, data clearly shows a bright future for the investors in this asset.