en.bitcoinsistemi.com
Famous investor and Professional Capital Management CEO Anthony Pompliano evaluated the recent price movements of Bitcoin ($BTC).
According to Pompliano, the recent declines in Bitcoin are a sign of the asset's maturation process.
Pompliano noted that Bitcoin has typically experienced corrections of 30% in past bull markets, while the recent decline has remained in the 10-15% range. He explained that this is related to the entry of institutional investors into the market and the decrease in volatility.
Bitcoin is now a much larger market. Institutional investors, ETFs, and public companies are involved. This is leading to a reduction in excessive volatility. We are now unlikely to see a rapid rally to $400,000-$500,000 or a sharp decline of 85-90%.
Pompliano stated that Bitcoin has transitioned from a “consensus” investment to a “consensus” investment, arguing that this process inherently results in lower volatility. He also stated that he believes Bitcoin will reach $1 million in the long term, but that this is unlikely to happen in this cycle.
According to Pompliano, Bitcoin is “oversold” at its current levels, with a rebound expected in the September-October period. This is due to expectations of a Fed rate cut, corporate buying, and increased market activity after the holiday season.
Referring to the interest in ETPs and ETFs, Pompliano said that some investors have converted their $BTC into ETFs for security reasons, but he does not expect this to become widespread in the general community:
“Bitcoin is still king. The rhetoric of 'Blockchain but not Bitcoin' is no longer valid. Capital is shifting to other areas, which further reduces volatility.”
*This is not investment advice.