American entrepreneur and Bitcoin bull Anthony Pompliano recently shared his bullish sentiment towards Bitcoin, advising investors on what they should do during a BTC dip and reassuring them that there is no need for concern despite recent underperformance. In an interview with FOX Business, Pompliano emphasized that Bitcoin dips are actually buying opportunities, stating that every great investor understands they should buy more when prices move against them. He highlighted the resilient nature of Bitcoin as an asset that will likely be worth more in the next five to ten years.
Pompliano pointed out that retail and institutional investors are beginning to recognize Bitcoin’s potential growth and value over time. He mentioned that Bitcoin has matured compared to previous market cycles, with smaller price corrections observed in the current cycle. He noted that the presence of Spot Bitcoin ETFs in this market cycle could serve as a catalyst for Bitcoin’s future growth and predicted that Bitcoin could reach a new all-time high before the end of 2024. However, he cautioned that the entrance of institutional investors through Spot Bitcoin ETFs may dampen Bitcoin’s volatility, affecting its future appreciation potential.
In addition to discussing Bitcoin, Pompliano also shared his thoughts on the potential of Spot Ethereum ETFs and when they could start trading. He suggested that Ethereum might face challenges due to its multiple narratives compared to Bitcoin’s single narrative as a store of value. Pompliano expressed concerns that the complexity of Ethereum’s narrative could deter institutional investors from investing in Spot Ethereum ETFs, potentially impacting the amount of inflows these funds attract. He mentioned that rumors are circulating about the SEC being close to approving these funds, hinting that they may begin trading this summer or even sooner.
Overall, Pompliano’s insights highlight the evolving landscape of cryptocurrencies, particularly Bitcoin and Ethereum, and the impact of institutional investment through Spot ETFs on their future growth and appreciation potential. His bullish stance on Bitcoin and cautious approach towards Ethereum reflect the complexities and opportunities present in the crypto market. As investors navigate through market fluctuations and new investment opportunities, Pompliano’s advice serves as a reminder to focus on long-term potential and resilience when considering investments in the crypto space.
