Anthony Pompliano: Bitcoin Still Has Lower To Go

The founder of Morgan Creek Digital Assets Anthony Pompliano thinks that Bitcoin still has ‘’lower to go’’ and in today’s Bitcoin news we find out more about his opinions.

While speaking in an interview, Pompliano is now the latest crypto influencer who claims that Bitcoin will bottom out if the price drops below $3,000. He has become a frequent crypto market commentator on his social media platform and at one occasion he pointed out:

 “Short term, I actually think we have lower to go.’’

Pompliano has already made a prediction that Bitcoin will plunge to $3,000 for the BTC/USD pair which did happen earlier this month. Since then, the prices for almost all cryptocurrencies took off and the situation on the market changed each day. Bitcoin even hit its monthly high at $4,300 before starting a correcting rally on a downward trend and finished at $3,799 at press time.

Some altcoins made huge gains with Ethereum and Bitcoin cash doubling in price over the past few days. When he was asked about whether the price of Bitcoin was correlated to the traditional giants (Facebook, Apple, Amazon, and Netflix) stocks, he denied the allegations.

Similar to the cryptocurrencies, the FAANG stocks have crashed in 2018. Pompliano continued:

 “I definitely agree there are some psychological components at play as the stock market pulls down.’’

He pointed out that Bitcoin’s correlation with the S&P500 was ‘’near zero’’ and ‘’zero’’.

Other crypto experts and crypto traders have warned that Bitcoin could drop down to at least $1,300.