American
entrepreneur
and
Bitcoin
bull

Anthony
Pompliano

has
again
affirmed
his
bullish
sentiment
towards
the
flagship
crypto.
This
time,
he
advised
investors
on
what
they
should
be
doing
during
this
BTC dip
and
suggested
that
there
was
no
need
to
be
concerned
despite

Bitcoin’s
recent
underperformance. 

Bitcoin
Dips
Are
For
Buying

In
an

interview

with
FOX
Business,
Pompliano
mentioned
that
Bitcoin
dips
are
buying
opportunities
and
that
every
“great
investor”
who
knows
what
they
have
understands
they
should
buy
more
when
prices
move
against
them.
He
further
claimed
that
anyone
questioning
whether
or
not
they
should
be
buying
more
during
this
BTC dip

may
actually
not
know
what
they
own,
alluding
to
Bitcoin’s
potential. 

 

Pompliano
made
these
statements
while
noting
that
retail
and

institutional
investors

are
beginning
to
realize
that
Bitcoin
is
a
“resilient”
asset
that
will
be
worth
more
in
the
next
five
to
ten
years
than
it
is
now.
The
American
entrepreneur
also
explained
how
BTC
has
matured
compared
to
previous
market
cycles
while
still
achieving
impressive
growth.

He
stated
that
Bitcoin
experienced
several
30%
and
25%
price
corrections
in
the
2017
and
2021
bull
runs.
However,
things
have
improved
in
this
market
cycle,
with
the
flagship
crypto
only
experiencing

price
drawdowns

of
about
15%.
He
claimed
that
this
shows
that
BTC’S
volatility
is
dampening. 

Meanwhile,
he
also
noted
that
BTC
has
the

Spot
Bitcoin
ETFs

in
this
market
cycle,
which
was
lacking
in
the
previous
bull
runs.
He
believes
these
funds
will
be
a
major
catalyst
for
Bitcoin’s
run
heading
toward
year-end.
Pompliano
predicts
that
Bitcoin
can
hit
a
new
all-time
high
(ATH)
before
the
end
of
2024.

However,
he
warned
that
BTC
may
no
longer
appreciate
as
high
or
as
fast
as
it
used
to
now
that
institutions
are
invested
in
the
flagship
crypto
through
the
Spot
Bitcoin
ETFs.
He
again
remarked
that
this
is
because
the
entrance
of
these

 

institutional
investors

has
dampened
Bitcoin’s
volatility. 

Thoughts
On
The
Spot
Ethereum
ETFs

Pompliano
also
gave
his
thoughts
on
the

Spot
Ethereum
ETFs

and
when
they
could
begin
trading.
He
stated
that
these
funds
will
likely
start
trading
sometime
this
summer.
He
added
that
they
could
begin
trading
sooner
rather
than
later
based
on
rumors
that
the

Securities
and
Exchange
Commission
(SEC)

is
close
to
approving
these
funds. 

He
believes
that
Ethereum
has
a
problem
that
BTC
doesn’t
and
suggests
that
this
could
negatively
impact
the
amount
of
inflows
that
the
Spot
Ethereum
ETFS
attracts.
According
to
Pompliano,
Bitcoin
has
a
single
narrative
as
it
is
known
as
a
‘store
of
value’,
which
he
believes
has
been
enough
to
convince
investors
to
invest
in
the
flagship
crypto. 

On
the
other
hand,
he
said
that
Ethereum
has
many
narratives,
which
creates
a
confusing
story
for
the
second-largest
crypto
token
by
market
cap.
He
noted
that
this
could
be
a
big
problem
for
the
Spot
Ethereum
ETFs
since

institutional
investors

could
easily
be
confused
by
what
Ethereum
is
about
and
opt
against
investing
in
these
funds. 

Featured
image
created
with
Dall.E,
chart
from
Tradingview.com

Go to Source
Author: Scott Matherson

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