The founder of Morgan Creek Difital Assets Pompliano Anthony (Anthony Pompliano) argues that the value of bitcoins stabiliziruemost after falling 85% from historic high. About this expert said in an interview for the program “Squawk Box” on CNBC.
According to the forecasts of Morgan Creek, bitcoin will come out of the negative trend with approximately the same result as before:
“Bitcoin has already experienced two [large] decline of quotations of more than 80%. We think this time the loss will stop at about 85% of the historical maximum, maybe a little more.”
Asked the host about whether Pompliano, the Exodus of traders, he gave his interpretation of what is happening in the market:
“I believe that the bitcoin price high, so she reduced. There are three things, which are important to remember. For starters, it is the level of settlement transactions, it has a certain value. This is the most secure method of settlement, it is an asset class with the best performance over the last 10 years. During the long recovery, he performed better than the S&P, Dow Jones, NASDAQ and other indexes. Bitcoin twice lost 80% of the peak value, the asset supports the growth of over 400% compared to the rate two years ago. And the third point — this increase is fully provided retail investors.”
The analyst added that the background of the outflow of private traders this year also saw an increase in participation of institutional investors. Pompliano, explained that they, in turn, operate on large amounts of “over the counter”. Since the transaction in an off-exchange trading is harder to check the current market situation, probably, does not reflect the real demand.
At the end of the interview, Pompliano added that Morgan Creek Digital Assets will continue to work with bitcoin “to the end”, even if the rate falls to $3,000.
As Anthony Pompliano, a partner at venture company CryptoOracle Lou Kerner (Lou Kerner) remains optimistic about the future of BTC and even believes that the current recession contributes to the improvement of the market. The argument Kerner brought the history of Amazon, which managed to survive the “dot com bubble” and multiply the capitalization.
