Bitcoin Price Could Fall to $3,000, Says One of Crypto’s Most Bullish VCs

August 27, 2018


Anthony Pompliano, founder and partner, Morgan Creek Digital Assets has predicted that bitcoin could fall as low as $3,000 in a complete turnaround from one of the market’s most bullish positions. In a post, Pompliano stated that his January prediction of a $50,000 year-end bitcoin price was wide of the mark by as much as four years. In July, CCN reported that Morgan Capital Management founder Mark Yusco predicted a bitcoin year-end price of $25,000, followed by a subsequent run culminating in a price exceeding $500,000 by 2024.Pompliano however, says that after examining more data, this optimistic position has been reviewed.He stated:“Parabolic increases in price continue to take longer — each parabolic run is measured from the last all-time high to the new all-time high. The first rapid price appreciation took just over 300 days (2010-2011) and the second took over 900 days (2011-2013). The last parabolic price increase peaked at ~$20,000 (2013-2017) and took almost 1,500 days to complete.” According to Pompliano, an extrapolation of this trend shows that bitcoin is unlikely to hit another all-time high until the middle of 2023, more than 2,000 days after the previous all-time high.



#Bitcoin #BTC

Share on Facebook
Share on Twitter
Please reload

Featured Posts

#Binance Adds #BTT/PAX, BTT/TUSD and BTT/USDC Trading Pairs

February 14, 2019

Please reload

Recent Posts
Please reload

Beginner's Bitcoin Buying Guide

Learn how to buy

bitcoin with this free step by step guide for  beginners.

Click here to read

Please reload


© 2018 by  - email  us:

Terms of Use and Privacy Policy Disclaimer: Most of the articles, ratings, and reviews are posted because we are compensated in some way.

Follow Us
  • Facebook Basic Square
  • Twitter Basic Square