Today we would like to share with you some interesting thoughts from Morgan Greek founder, Anthony Pompliano. In its largest analyses where he especially highlighted that Bitcoin price went down 15% in a day and currently sitting around $4,500 which is more than a 75% decline from the all-time high in December 2017, he also said: “Many crypto funds and ICO projects are about to race to shut down or declare bankruptcy”. There’s a tendency to see that as a stress-test situation that will clear the market from intruders that aren’t interested in crypto enough to understand how it works.
This situation makes people wonder if Bitcoin is going down completely. And here’s another point of agreement we share with Morgan Greek founder, who said: “While price volatility can be emotionally painful, we continue to reiterate to our clients that Bitcoin is acting as we anticipated”. On August 24 of this year, with Bitcoin around $6,500, Anthony Pompliano wrote “we are likely to see Bitcoin near $3,000 before we see Bitcoin at $10,000 again. If this is true, that means we still have ~50% price decrease to go. Things may get really, really ugly if this happens.”
The thing is we are looking at the market which is really volatile. Like, really volatile. So it’s take it or leave it. We recommend you take it.
And here’s Anthony’s tweet we would like to share with you:
History lesson:
- People feared electricity
- People feared first train
- People feared first plane
- People feared the internet
- People feared hedge funds
- People feared Bitcoin
People fear what they don't understand. Don't get caught on the wrong side of history.
Trade smart.
Trade with Trodax.