BTC to $100,000
With a continuous increase in the spread of the Coronavirus pandemic, its effect on global financial markets is getting severe day by day. At the current moment, the economic condition of the coronavirus affected countries is worse than before and they are continuously trying to recover it.
As governments are making efforts to revive their economic condition meanwhile Anthony Pompliano, the co-founder and managing partner at Morgan Creek Digital, says that this factor could prove very advantageous for the leading digital asset Bitcoin.
A catalyst effect for BTC to reach $100,000
Anthony Pompliano is of the view that two factors are going to prove more beneficial for Bitcoin. Firstly, the actions governments across the whole world are taking in order to reopen their economy and secondly, the upcoming May 2020 Bitcoin halving event. Both of these factors ‘combined together might have a catalyst effect’ on the top digital asset and may push its price to reach a high bullish mark of $100,000 by the end of 2021.
He shared his view on when the recovery of the economy is going to happen and said that he does not expect it to happen very soon. According to him, things are going to go pretty worse before they even go for any betterment. He stated:
“This is going to be a long road to recovery but I also don’t think the worst is over yet. I actually think that we’re just starting. I think this is going to get a lot worse before it gets better.”
He also believes that there is likely a chance that the United States’ 50% of the small businesses might not be able to survive this current financial turmoil. And also, the unemployment cases are going to increase more in the coming days.
The much-awaited third-ever May 2020 Bitcoin halving which is expected to happen next month is not so far now. Along with the revival of the economy, Anthony Pompliano also considers the upcoming halving event a key catalyst for Bitcoin’s price. It is a very bullish case scenario described by Anthony as apparently for Bitcoin to reach $100,000 by the end of next year seems very difficult.