VC is bullish on BTC, but predicts a $3000 low before hitting a $50000 high

26 Aug, 2018
by Arthur Sillers
News
VC is bullish on BTC, but predicts a $3000 low before hitting a $50000 high

Anthony Pompliano, head of Morgan Creek Digital Assets has long been a bull on crypto, but warns that the price of BTC might plummet to $3,000 before it spikes to his long term prediction of $50,000.

According to a post Pompliano made on his blog, his analysis of available data concludes that bitcoin will be valued at $50,000 in the next four or five years, but before that eventuality will take a serious hit.

Pompliano mantains that the series of ‘parabolic increases in price’ which BTC has been undergoing are continuing to get longer as the life cycle of bitcoin matures. According to his calculations, “The first rapid price appreciation took just over 300 days … and the second took over 900 days ... The last parabolic price increase … took almost 1,500 days to complete.”

This leads him to the conclusion that the market is due for a 2000 day price increase, meaning the market isn’t due for a recovery until 2019, and won’t see its apex until 2022 or 2023.

The long term prediction is good, but not before investors see periods of ‘pain and discomfort.’

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Read more about: Bitcoin (BTC)

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