Bitcoin continues to strengthen: analysis of Anthony Pompliano
Date: 2024-05-08 Author: Oliver Abernathy Categories: BLOCKCHAIN
Anthony Pompliano, a well-known founder and investor in the cryptocurrency space, highlighted the recent rise of Bitcoin's 200 DMA (daily moving average) to a new all-time high, which he believes indicates that Bitcoin is in a very strong position. In his latest statement, he emphasized that despite price fluctuations on a daily basis, the long-term thesis for digital gold remains as compelling as ever.
In his tweet, Pompliano also mentioned that the Grayscale Bitcoin Trust (GBTC) recorded an influx of funds for the first time in 78 days. This may indicate increasing interest in Bitcoin from institutional investors.
However, in addition to rising prices, other factors also confirm the strengthening of Bitcoin’s position. Analyst and co-founder of CMCC Crest Willy Wu noted significant activity among large holders, pointing to a serious increase in interest in Bitcoin among owners of 100 to 1000 BTC. This may indicate confidence in cryptocurrency as a long-term asset and suggest its further growth.
One of the key points that analysts have paid attention to is the support level at $60,500. According to experts, if Bitcoin remains above this level, then there is a high probability of continued growth to the $70,000 level in the next few months.
It is important to note that many experts have expressed optimism about the prospects for Bitcoin, including in the context of the expected approval of the ETF. Increasing interest from major investors and positive technical signals indicate that Bitcoin continues on its path to strengthening its position as one of the leading digital assets in the global market.
