Bitcoin’s Price May Double To $138k This Month, History Suggests

Bitcoin, the popular cryptocurrency, is expected to double in price to $138,000 this month, according to Anthony Pompliano, the founder of Pomp Investments. Pompliano based his prediction on the historical trend that shows Bitcoin doubling in price within 18 days or less after breaking its previous all-time high. Bitcoin recently broke its previous record and now trades just below it at $67,423. The unique aspect of this current surge is that it occurred before this year’s Bitcoin halving, an event that typically drives the market dynamics. Pompliano believes that the halving, combined with the entry of new buyers such as public pension funds and sovereign wealth funds into Bitcoin ETFs, will propel the cryptocurrency’s market cap to surpass that of gold. The rise of Bitcoin spot ETFs in the United States, which have attracted over $8 billion in net flows since January, has contributed to Bitcoin’s appreciation. Overall, Pompliano sees Bitcoin as a winner in the context of global liquidity and believes that if the dollar continues to be debased, Bitcoin’s value will continue to rise.