After CNN, A. Pomp Heads To CNBC talks about Bitcoin
After appearing on CoinTelegraph, on Crypto-related segment, CNR International, Anthony "Pomp" Pompliano, one of the most diehard supporters of Bitcoin, interrupted a bit of time to appear on CNBC & # 39; s. Squawk Box panel in the early morning.
Bitcoin is fighting, struggling to stay above $ 4000. This cryptographic expert believes that the bitcoin will shrink to 85% of the previous highs. https://t.co/3ZTzmfOEP1 pic.twitter.com/mpTyeh3ZKe
– CNBC (@CNBC) November 26, 2018
The founder of Morgan Creek Digital Assets Pomp, known for his anti-banking rhetoric, pro-crypto ("short the banks, long Bitcoin"), sat with CNBC in the early hours of Monday morning to bring the good news of the cryptocurrency to millions of viewers around the world. And while "Pomp" was bearish on BTC in the short term, it could be argued that his appearance in public was quite successful.
Touching the recent BTC stage, which sent the asset below $ 5.800, a highly-touted propaganda support that has been held three times previously, the crypto savant has drawn lines to the two historical bitcoin drawcos of over 80%. Explaining why this statistic is relevant, Pomp noted that Morgan Creek expects the BTC to trade at ~ $ 3,000, just 15% of its all-time high established in 2017.
With this in mind, the analyst added that it is likely to fall further, despite the already sad market conditions that the crypt has faced.
The host, who has been the subject of controversy in the cryptosphere in recent days, has asked Pomp the sell-off of 2018 to dissuade Bitcoin speculators or even those who are faithfully invested in this space forever.
The Morgan Creek partner, probably one of the most fervent supporters of Bitcoin, has exclaimed that this could not be further from the truth, observing that within it, Bitcoin is the most secure transaction transaction level in the world, so the value in BTC it will always exist.
He added that cryptocurrencies as a whole represent the best asset class in the last decade, even ousting the US stock market, which has been in its longest and most important run in recent decades. Pompliano added that while bitcoin has suffered drastic declines in the past, it remains a promising investment. And last but not least, the supporter added that all of this was catalysed by retail players, not by the people of high economic value that speculators have been clamoring for.
A member of the panel, obviously slightly disrupted by Pomp's comments on Bitcoin, asked the most irreducible thing what distinguishes cryptocurrencies from any historical "tulip mania", clearly highlighting the belief that this nascent market is the "mother of all bubbles" of this millennium.
Asked by his anti-bank sentiment, Pomp responded calmly, pointing out that the institutions entered this market, but through the over-the-counter branches, rather than the spot trades susceptible of low liquidity and drastic price fluctuations.
Ending his appearance in a high tone, Pomp noticed that his company, Morgan Creek, would be in seventh heaven to buy BTC for $ 3,000, and will continue to buy at current levels until the sun runs out, so to speak.
Because such appearances are a bullish sign
As already mentioned, while Pomp was not 100% sold on the short term prospects of Bitcoin, its presence on CNBC should be a hot topic, however.
"Why?" You could ask, well, let me explain.
Since the cryptocurrency market began its start-up phase in early 2017, major financial media, such as CNBC, Bloomberg, Forbes and the Wall Street Journal, have begun to incessantly cover the flavor of the world's month. , just saying. This, of course, triggered a short-term attack on global adoption, coupled with the blazing passion of speculators to turn a profit, then sending BTC to the moon, to put it lightly.
While the outlets have scaled their coverage in the crypto-market of 2018, almost disappearing the radio in cryptocurrency for weeks, the recent appearance of Pomp on CNBC and CNN, which comes amid the despair of investors, cementing the fact that these stores they still see interest and interest in cryptocurrencies, a bullish sign in and of itself.
Title Image Courtesy of Aziz Acharki on Unsplash