Bitcoin $50,000: BTC has to go higher, Pompliano predicts, and not because of the halving

Bitcoin $50,000: BTC has to go higher, Pompliano predicts, and not because of the halving

Venture capitalist and Bitcoin podcaster Anthony Pompliano has expressed a mega-bullish Bitcoin prediction. He expects the digital gold price to continue rising well above the $50,000 level and the reason is not the upcoming halving event.

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Venture capitalist and Bitcoin podcaster Anthony Pompliano has expressed a mega-bullish Bitcoin prediction. He expects the digital gold price to continue rising well above the $50,000 level and the reason is not the upcoming halving event.

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“The price of Bitcoin has to rise”: Pompliano

Pompliano, known on Twitter simply as “Pomp,” took to the platform to make an important Bitcoin price prediction. The angel investor believes that the $50,000 level reached yesterday is not the last stop for the flagship cryptocurrency.

Pompliano did not make any concrete predictions. However, he stated that “the price has to go up more.” According to the expert, once Bitcoin rises, bitcoiners will begin to sell their BTC and everything will be absorbed by Wall Street funds to satisfy their demand that has been increasing rapidly.

He made no mention of the impending Bitcoin halving event in mid-April. After this occurs, the number of Bitcoins produced daily will be halved, from 900 to 450 BTC. Currently, according to Pomp, Bitcoin ETFs are absorbing 12.5 times the BTC produced daily.

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Bitcoin ETFs break 30-year record

Many experts believe that after the halving occurs, they will begin to acquire even more Bitcoin each day. So far, after a month of trading, Bitcoin ETFs launched by BlackRock and Fidelity have received more than $3 billion in inflows, breaking a 30-year ETF record.

On Monday, Pompliano appeared on CNBC’s Squawk Box to talk about Bitcoin. He mentioned that the world’s leading cryptocurrency has become Wall Street’s favorite asset.

Supporting this thesis, VanEck and Tether digital asset advisor Gabor Gurbacs tweeted that other financial institutions will likely soon also begin launching spot-based exchange-traded funds, as “Bitcoin ETFs allow holders to use Bitcoin as collateral and gain access to credit and leverage in traditional markets” . He expects the current volumes of liquidity flowing into ETFs to be “nothing compared to what’s coming when more institutions start to understand this.”

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