Anthony Pompliano, founder of Morgan Creek Digital, believes that Bitcoin is in a unique position and will experience parabolic growth over the next five years, with a market capitalization of $5 trillion.
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Bitcoin will achieve parabolic growth
In a tweet released on Monday, Pompliano pointed out that among the $95 billion in assets, BTC is the only asset I think has the opportunity to grow 20-50 times in five years.
Such growth will make Bitcoin's market capitalization exceed $5 trillion and include Bitcoin in the same value category as assets such as gold.
“Bitcoin is the only asset I have ever seen with a market value of $95 billion and a real value of 20-50 times over a five-year period. Sometimes the best deal is the simplest deal. Pomp"
Currently, the market value of Bitcoin is slightly less than $100 billion. The current positive trend is that the highest-priced cryptocurrency in the market capitalization is recovering some of the lost ground lost during the 2018 bear market.
Bitcoin is currently enjoying a recovery in 2019, which has grown more than 50% since the beginning of the year. Most of this growth occurred in April, and since April 1, 2019, BTC prices have risen by about 35%.
The founder of Morgan Creek Digital, a well-known Bitcoin optimist, is not the only one who holds this view. Earlier in April 2019, Chris Burniske of venture capital firm Placeholder predicted that in the next bull market, the market value of BTC could exceed $1 trillion.
Many analysts are increasingly convinced that BTC has bottomed out and is about to enter a new parabolic growth cycle. According to a report on Tuesday, a gold cross pattern was formed on the BTC price chart, further strengthening the concept of bitcoin entering the bull market.
BTC is a more mature asset than 2017
Pompliano said that the next round of bitcoin bull market will be characterized by more mature bitcoin, driven by technology and market fundamentals, rather than the hype-driven bull market at the end of 2017.
In an Off The Chain blog post published on Tuesday, Pompliano highlighted a significant improvement in the fundamentals of Bitcoin. The text chapters are selected as follows:
“Bitcoin is a highly volatile asset. It has been misunderstood by many people. But one thing is for sure. As time goes on, the digital native currency continues to strengthen. Just like any important thing in life, bit The maturity and large-scale use of coins take time."
In the two years, indicators such as miners’ income, trading volume and wallet volume have increased. During the same period, Bitcoin's return exceeded the S&P 500 and gold markets.
In the past two years, the BTC index has risen by more than 450%, while the S&P 500 and the gold index have risen by 19.9% and 1.3% respectively. In 2019, BTC's performance will also exceed traditional markets such as oil and gold and commodities.
At the same time, BTC did experience an 80% decline in this bear market, but it is not surprising given its uniqueness compared to traditional stocks and commodities.