RATE Group | Why Major Investment Firm Founder Believes Bitcoin is Heading for $50,000
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Why Major Investment Firm Founder Believes Bitcoin is Heading for $50,000

27 Jul Why Major Investment Firm Founder Believes Bitcoin is Heading for $50,000

Posted at 16:23h in Bitcoin News by

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The founder of Morgan Creek Digital Anthony Pompliano has stated that he believes the price of Bitcoin is potentially heading towards $50,000 this year. Pompliano has said ETF speculation, institutional interest, and “human psychology” will drive the price surge of Bitcoin.

Legacy Institutions Need to Catch Up or be Deemed Irrelevant

Pompliano gave his bullish Bitcoin price forecast on Cheddar’s Crypto Craze Thursday yesterday. The former Facebook employee told the publication:

“I’ve got a high degree of confidence that at some point in the future its going to hit $50,000. And I’ve got some degree of confidence that it will be by the end of this year. I put that at probably 30-40%.”

For Pompliano, there exists three reasons behind his optimistic outlook, the first being human psychology. Pompliano believes that the market is striving towards “the next big round number,” and for him, that’s $50,000.

He explained that the speculation surrounding the many applications…

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