The Price of Bitcoin Will Fall Below $3000, Says Anthony Pompliano

Dec 26, 2018 at 20:30 Update Date :Dec 26, 2018 at 20:30 UTC

The experts in the crypto market have been predicting the future of Bitcoin from the day when the price of Bitcoin lowered down below $4000. The leading cryptocurrency in the world is facing the worst period so far. The price of Bitcoin has lowered down below $4000, and the crypto market is facing a lot of fluctuations these days.

Bitcoin Prices Will Go Below $3000: Anthony Pompliano

Adding to the list of predictions, Anthony Pompliano, founder of the Morgan Creek Digital Assets, said that the price of Bitcoin will decline below $3000. Anthony Pompliano also believes that despite the bull run of bitcoin, where the prices run above to the mark of $4000, the leading cryptocurrency still has to go down below $4000 in the coming days.

In an interview to CNBC, December 26, the market commentator on social media said that Bitcoin markets will bottom out when the prices will go below $3000. Earlier in the month of November, Pompliano predicted that Bitcoin prices would plunge to $3000, which actually happened this month.

Since then, the prices of Bitcoin and other major altcoins have seen a lot of up and downs. BTC prices touched the highest mark of $4300 and dropped down below the $4000 mark in the same week. At the time of writing this, the price of 1 Bitcoin is $3761.

With Bitcoin prices going down, on the other hand, other altcoins like Bitcoin Cash (BCH) and Ethereum (ETH) have doubled their United States dollar values in the last few weeks.

Anthony Pompliano denied the facts regarding the correlation of Bitcoin prices with the stocks of Facebook, Apple, Amazon, Netflix, and Google. The allegations occurred because the stocks of these giant companies have also tumbled this year.

Pompliano further added:

“I definitely agree there are some psychological components at play as the stock market pulls down. BTC correlation with the S&P 500 was ‘zero’ and ‘near zero’ with the dollar index.”

Last week, Tone Vays, a veteran trader, said that the 50 months moving average of Bitcoin, would lead the prices to as low as $1300, which was the highest bull run of Bitcoin in the year 2013.

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