The rewards for adding blocks to the network will be halved. Many members of the community, including Pompliano, expect the Bitcoin price to rise as the supply of new Bitcoins decreases. The halving will be a big moment for Bitcoin. I don’t think that the price will shoot up the day after it, but I do think that from the day we are right now, we will see Bitcoin’s price at $100,000 by December 2021.
Currently, Bitcoin continues to move sideways and stands at USD 7,500 again, with a minimal gain of 0.47%. Meanwhile, Anthony Pompliano, founder of Morgan Creek Capital, is bullish and describes that Bitcoin only needs time to continue growing.
They go and check enterprise blockchain, check out tokenized securities, DeFi, but pretty much everyone comes back to Bitcoin. Now, that journey may take six months, 12 months, or 18 months, but I think the best thing for Bitcoin is time.
Governments, companies and large financial institutions are gradually realising the potential and advantages that Bitcoin offers over the traditional financial system:It takes time for people to get familiar with it, to start using it, to understand why it’s crucial. I think that’s going to happen at the government level, the private level, and the institutional level. So it’s just the time needed for people to get more familiar with it.
Author : Collin Brown