Anthony Pompliano of Morgan Creek Digital estimates Bitcoin's ability to grow parabolically within the next five years and increase its market capitalization to $ 5 trillion.
Bitcoin Set for Parabolic Growth
In a tweet published on Monday (April 22, 2018), Pompliano has identified Bitcoin as the only asset worth less than a trillion dollars, which is within a fivefold figure Could increase 50-fold -year year.
Such an increase would increase BTC's market capitalization to $ 5 trillion and place Bitcoin in the same value class as gold and gold.
Bitcoin is the only capital I've ever seen that has a realistic chance to grow 20 to 50 times over five years.
Sometimes the best trade is the easiest.
̵1; Pompomp (@APompliano) April 22, 2019
Currently, Bitcoin's market capitalization is close to $ 100 billion. The current positive trend is that the top crypto group in the bear market of 2018 had lost something.
Bitcoin is experiencing a resurgence in 2019, an increase of more than 50 percent since the beginning of the year. The lion's share of this growth was achieved in April, with the BTC price 0 0 increasing by about 35 per cent since 1 April 2019.
Pompliano, founder of Morgan Creek Digital and a well-known Bitcoin permabull, is not alone in this belief. In early April 2019, Chris Burniske of Placeholder – a venture capital firm – predicted that BTC would reach $ 1 trillion in market capitalization on the next bull run.
Many analysts are increasingly relying on the belief that BTC has bottomed out and plans for a new parabolic growth cycle. As reported by Bitcoinist on Tuesday (April 23, 2019), a gold cross pattern has formed on the BTC price chart further reinforcing Bitcoin's idea of a bull market.
BTC a maturer asset until 2017
According to Pompliano, the next BTC bull cycle, instead of the hype-driven bull run at the end of 2017, will include a more mature Bitcoin based on technical and market fundamentals.
In a Off The Chain blog post published on Tuesday, Pompliano highlighted the significant improvements in the basic foundations of Bitcoin. An excerpt from the article is:
Bitcoin is a very volatile asset. It is misunderstood by many. One thing is certain, however: the digitally-native currency will become stronger over time. As with everything important in life, the maturation and bulk application of Bitcoin will take some time.
Over a two-year period, metrics such as miner revenue, transaction volume, and number of wallets have increased. Over the same period, Bitcoin outperformed markets such as the S & P 500 and Gold.
Over the last two years, BTC has gained more than 450 percent, while the S & P 500 and Gold have stood at 19.9 percent and 1.3 percent, respectively. In 2019, it also outperformed traditional markets and commodities, including oil and gold.
BTC slumped 80 percent over the period. However, this is not surprising as it is unique compared to traditional stocks and commodities. 19659004] Can the market capitalization of Bitcoin reach 5 trillion dollars by 2024? Let us know your thoughts in the following comments.
Pictures on Twitter @APompliano Shutterstock