RATE Group | Bitcoin price: Expert believes cryptocurrency to hit £100,000 by 2021 | City & Business …
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Bitcoin price: Expert believes cryptocurrency to hit £100,000 by 2021 | City & Business …

12 Jul Bitcoin price: Expert believes cryptocurrency to hit £100,000 by 2021 | City & Business …

Posted at 16:11h in Bitcoin News by

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Bitcoin saw its highest price before December 2017 when the cryptocurrency hit just under $20,000. Anthony Pompliano, a partner and co-founder of Morgan Creek Digital, outlined why he thinks the price will increase. He told Yahoo Finance: “The important thing to remember about bitcoin is it is a fixed supply asset and so supply and demand economics apply.

“So if there are increases and demand you are going to see a price move up.

“I think that by the end of 2021 we will see it eclipse $100,000 and really that is just driven by more institutional interest and then also a lot more global instability that we are seeing in the early days of today.”

According to CoinDesk’s bitcoin price index, the world’s largest digital currency was at $11,726.48 at 14:30 on Friday.

Mr Pompliano insisted bitcoin will “definitely remain volatile”, adding: “We will see a lot of, in a parabolic move upwards, we will see kind of 20 to 40 percent drawdown.

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