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Bitcoin

American Entrepreneur Anthony Pompliano Advises Investors To Use Bitcoin Dips For Buying

Scott Matherson
by Scott Matherson
1 year ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

American entrepreneur and Bitcoin bull Anthony Pompliano has again affirmed his bullish sentiment towards the flagship crypto. This time, he advised investors on what they should be doing during this BTC dip and suggested that there was no need to be concerned despite Bitcoin’s recent underperformance. 

Bitcoin Dips Are For Buying

In an interview with FOX Business, Pompliano mentioned that Bitcoin dips are buying opportunities and that every “great investor” who knows what they have understands they should buy more when prices move against them. He further claimed that anyone questioning whether or not they should be buying more during this BTC dip may actually not know what they own, alluding to Bitcoin’s potential. 

Pompliano made these statements while noting that retail and institutional investors are beginning to realize that Bitcoin is a “resilient” asset that will be worth more in the next five to ten years than it is now. The American entrepreneur also explained how BTC has matured compared to previous market cycles while still achieving impressive growth.

He stated that Bitcoin experienced several 30% and 25% price corrections in the 2017 and 2021 bull runs. However, things have improved in this market cycle, with the flagship crypto only experiencing price drawdowns of about 15%. He claimed that this shows that BTC’S volatility is dampening. 

Meanwhile, he also noted that BTC has the Spot Bitcoin ETFs in this market cycle, which was lacking in the previous bull runs. He believes these funds will be a major catalyst for Bitcoin’s run heading toward year-end. Pompliano predicts that Bitcoin can hit a new all-time high (ATH) before the end of 2024.

However, he warned that BTC may no longer appreciate as high or as fast as it used to now that institutions are invested in the flagship crypto through the Spot Bitcoin ETFs. He again remarked that this is because the entrance of these institutional investors has dampened Bitcoin’s volatility. 

Thoughts On The Spot Ethereum ETFs

Pompliano also gave his thoughts on the Spot Ethereum ETFs and when they could begin trading. He stated that these funds will likely start trading sometime this summer. He added that they could begin trading sooner rather than later based on rumors that the Securities and Exchange Commission (SEC) is close to approving these funds. 

Related Reading: Cardano Chang Hard Fork Is Almost Here, Should We Expect A Repeat Of 2021?

He believes that Ethereum has a problem that BTC doesn’t and suggests that this could negatively impact the amount of inflows that the Spot Ethereum ETFS attracts. According to Pompliano, Bitcoin has a single narrative as it is known as a ‘store of value’, which he believes has been enough to convince investors to invest in the flagship crypto. 

On the other hand, he said that Ethereum has many narratives, which creates a confusing story for the second-largest crypto token by market cap. He noted that this could be a big problem for the Spot Ethereum ETFs since institutional investors could easily be confused by what Ethereum is about and opt against investing in these funds. 

Bitcoin price chart from Tradingview.com
BTC price struggles to hold $60,000 | Source: BTCUSD on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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