Anthony Pompliano’s Bold Price Prediction!
Bitcoin (BTC) bulls are looking for the critical level reached at the end of August, the $64K mark. After four consecutive days of failed attempts to break above that target, the bulls will be under a lot of pressure to resist any kind of bearish sentiment.
A break above $64K could pave the way for a new resistance level around $68K, marking a major shift in their support line.
Let's see how crypto experts see this wave and how much BTC justifies the bull theory.
The analyst says expect a Bitcoin rally soon
In his latest video, Anthony Pompliano provides an optimistic view on Bitcoin's price trajectory during the current bull market. Central bankers and politicians argue that the continued depreciation of the US dollar plays a significant role in this expected price increase.
As the Federal Reserve and other financial institutions continue to print money and lower interest rates, the purchasing power of the dollar diminishes. This situation creates fertile ground for Bitcoin, which unlike fiat currencies, has a fixed supply of 21 million coins.
Pompliano emphasized that Bitcoin's price is set to increase significantly, not only due to its inherent nature, but largely due to macroeconomic trends. He pointed out that as the dollar continues to lose value, many individuals are looking for an alternative to protect their wealth. As a decentralized and sovereign form of digital currency, Bitcoin is increasingly attractive to investors looking for a hedge against inflation and currency collapse.
Additionally, Pompliano highlights the growing acceptance of Bitcoin as a legal asset class. As more people understand the benefits of owning Bitcoin, demand is expected to increase, driving the price higher. He expresses his excitement about Bitcoin's potential during this bull market and encourages viewers to share their price predictions, fostering a community of engagement and discussion.
“Uptober” brings hope
Pompliano's analysis emphasizes that Bitcoin is more than a speculative value; It is a critical safeguard against economic policies that undermine traditional monetary values. As the month comes to an end, there is optimism for an ominous change in the market, often referred to as “Aptober.”
Despite a small 0.37% drop in Bitcoin price and a decrease in the RPL ratio, indicating initial losses, most transactions remain above the original purchase prices. In addition, large transaction volumes, especially those above $100K, show high momentum challenging Bitcoin's ability to sustain below $64K.
Will the bulls ignite a short-term rally? Only time will tell but the signs are pointing up!
