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Bitcoin (BTC) has still "low to fall" despite its upward run at over $ 4,000 last week, Morgan Creek Digital Assets founder Anthony Pompliano told CNBC on December 26th.
Speaking in an interview, Pompliano, who is also a frequent commentator on social media markets, has become the last character to claim that the Bitcoin markets will only go down when the price falls below $ 3,000.
"In the short term, I actually think we have even less way to go," he told the network.
In November, Pompliano predicted a dive of $ 3,000 for BTC / USD, which subsequently occurred at the start of this month.
Since then, prices on crypto markets have taken off, with Bitcoin touching its monthly high of nearly $ 4,300 before correcting downward to round to $ 3,782 at the time of printing. Some altcoins have gained a lot more, with Bitcoin Cash (BCH) and Ethereum (ETH) more than doubling their respective dollar values in a few days.
Faced with the claim that the price of Bitcoin was correlated with traditional and / or FAANG titles – ie Facebook, Apple, Amazon, Netflix and Google -, Pompliano denied both claims.
Like cryptocurrencies, the stocks of FAANG collapsed in 2018, with traditional stocks followed during the Christmas period.
"I absolutely agree that there are some psychological components at stake while the stock market is lowering," continued Pompliano, noting that Bitcoin had a zero correlation with the S & P 500 and an almost close correlation. nothing with the dollar index.
Last week, veteran dealer Tone Vays warned that a close below the 50-month moving average would bring the bitcoin to at least $ 1,300, the highest point of his bull run in 2013.
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