Anthony Pompliano is a fund manager at Morgan Creek Digital. Every day he sends an e-mail to investors. In today’s email, Pompliano is very specific: before December 31, 2021, bitcoin is worth 100,000 dollars.
He has been right before
On August 24, 2018, bitcoin was worth about $ 6,800. At the time, Pompliano wrote an e-mail to investors and also shared this e-mail with newsletter subscribers. In that email he wrote: “The price of bitcoin will probably first drop to $ 3,000 and then go towards $ 10,000.” Read what was mention in this article Analyst Peter Brandt: Bitcoin is headed for $ 100,000.
His prediction that the value would fall by around 50 percent was received with much skepticism. Afterwards, Pompliano turned out to be right. Bitcoin fell to around $ 3,200 in December 2018, then the rate recovered to rise to $ 10,000 last weekend.
On August 24, 2018 I called for Bitcoin to drop 50% to $ 3k before rallying back over $ 10k.
That call was deadly accurate and allowed Morgan Creek Digital to buy the dip.
Here is my next price target.https: //t.co/KzhRO7u2Vi
– Pump ? (@APompliano) June 24, 2019
More often than not
Pompliano admits that it is difficult to make accurate predictions, but he does support his predictions. That is why he wants to make public this personal prediction about the race publicly.
In his e-mail, the fund manager writes that he does not strive for 100 percent accuracy, but he wants to be right more often than he is wrong. Pompliano says that managing other people’s money comes down to three pillars: a price target, a timeline and to link a level of reliability to this. He continues to reflect on these three pillars as he receives new information.
75 percent sure
Based on all available information, Pompliano dares to say that bitcoin is worth $ 100,000 before December 31, 2021. The reliability level? Around 75 percent.
He thinks that the road to 100,000 dollars is accompanied by big dips. The bitcoin price is simply volatile. He expects the rate to fall by 20 to 30 percent in between. Pompliano sees these mini-boom / bust cycles as a natural market dynamic.
Increasing demand, decreasing supply
The reason that he expects the price to rise is, of course, because of the increasing demand, but also because the halving in May 2020 is causing a declining supply. This demand can come from large-scale institutional acceptance, ETFs and retailers that will accept bitcoin. Link this to increased global instability, a lack of performance in traditional markets and the constant manipulation of markets, economies and currencies by governments around the world.
If Pompliano is proved right, the total market value of bitcoin is more than 2 trillion dollars, at a price of 100,000 dollars. That is currently less than 1 / 3rd of gold and less than 1 / 40th of the total worldwide amount of money.
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