Bitcoin’s Price Will Go Below $3,000

Bitcoin (BTC) still has “lower to go” despite its bull run to above $4,000 last week, Morgan Creek Digital Assets founder Anthony Pompliano told CNBC on Dec. 26.

Speaking in an interview, Pompliano, who is also a frequent markets commentator on social media, became the latest figure to claim Bitcoin markets will only bottom out when the price drifts below $,3000.

“Short term, I actually think we have lower to go,” he told the network.

In November, Pompliano had predicted a plunge to $3,000 for BTC/USD, which subsequently occurred earlier this month.

Since then, prices across the crypto markets have taken off, with Bitcoin hitting its monthly high of almost $4,300 before correcting downwards to circle $3,782 at press time. Some altcoins gained much more, with Bitcoin Cash (BCH) and Ethereum (ETH) more than doubling their respective USD values in days.

Asked whether Bitcoin’s price was “correlated” with traditional or FAANG (Facebook, Apple, Amazon, Netflix and Google) stocks, Pompliano denied both assertions.

Like cryptocurrencies, FAANG stocks have tumbled in 2018, with traditional stocks following over the Christmas period.

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

Last week, veteran trader Tone Vays warned that a close below the 50-month moving average would take Bitcoin down to at least $1,300, the high point of its bull run in 2013.



  1. I want to show thanks to this writer just for rescuing me from this type of problem. Just after surfing around through the world wide web and seeing strategies that were not productive, I assumed my entire life was gone. Living minus the solutions to the problems you have solved by way of your entire blog post is a serious case, as well as the ones that might have negatively affected my entire career if I had not discovered your website. Your personal natural talent and kindness in maneuvering everything was important. I don’t know what I would’ve done if I hadn’t discovered such a subject like this. It’s possible to at this point look forward to my future. Thanks very much for the skilled and effective guide. I won’t hesitate to recommend your site to anyone who desires care on this issue.

  2. A lot of thanks for every one of your hard work on this site. Betty delights in participating in investigation and it is simple to grasp why. We notice all relating to the powerful method you deliver precious steps on the website and as well inspire response from some other people on that area plus my child is really studying so much. Have fun with the rest of the new year. You have been conducting a really great job.

Leave a Reply

Your email address will not be published. Required fields are marked *