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3 reasons why Bitcoin will reach $50,000 before the year closes, Anthony Pompliano

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There have been lots of predictions that Bitcoin would reach the $50,000 price mark before 2018 comes to an end. The latest one on the list is from a notable investment manager, Anthony Pampliano – he is quite certain that Bitcoin (BTC) would reach $50,000.

Pampliano is a well-known personality. He is notably the partner and co-founder at Morgan Creek Digital Assets. A firm that takes care of institutional hedge funds and talking about the latest from it, it recently managed to score a strategic partnership with an established VC firm, CityBlock Capital. Pampliano in an interview on Skype with Cheddar stated that the surge will be based on three essential factors: Human psychology, Bitcoin ETF speculations, and the entry of institutional money.

Pampliano stated this to Cheddar:

I’ve got a high degree of confidence that at some point in the future, it’s going to hit $50,000. And I’ve got some degree of confidence that it will be by the end of this year.

Anthony also stated that there probably are 30 to 40 percent chances that the price will hit the $50,000 mark before the year closes. Pampliano further twitted this on his Twitter profile:

It is important to note that the pullback in the price of Bitcoin in the last 48 hours or so was as a result of SEC’s disapproval of the Winklevoss BTC ETF application – but at the time of writing, Bitcoin has backed-up a bit and currently trading at $8,141 per coin (went below $8,000 right after the ETF rejection news). Pampliano noted that Bitcoin would be extremely bullish and surge higher.

His number one factor was the human psychology, and Pampliano has stated that his projected price mark was the next mega round number that lots of BTC traders would love and would drive the value to the $50,000 price mark. When Bitcoin’s price broke above the $8000 price mark, it moved above three resistance levels without being overbought.

Pompliano stated,

There’s a lot of speculation on the new ETF decision, [but] I don’t think it’ll get approved in the next 30 days or so. There’s a lot of people excited about that.

SEC’s approval on Bitcoin’s ETF is improbable, and the speculation about future approval is Pompliano’s second factor that would maintain Bitcoin bullish sentiment.

It is important to note ever since this month, the market has brought some bullish sentiments which have matched unexpected happenings such as the China and U.S trade-off.

Pompliano’s third factor or reason is on the institutional money. He said that the institutional money entry can surge Bitcoin’s price to $50,000. Pampliano is familiar with the activities of institutional investors since he is a partner at Morgan Creek Digital Assets. Pompliano states:

You can see institutional money coming into funds and future contracts so you’re starting to see really big volume in some of these products. I think that’s going to drive the asset.”

He also stated that cryptos are pleasing to hedge funds too, and there are looking for the chance to make big gains.

Finally, on Pompliano’s prediction, all we need to do is to keep our fingers crossed and see how the market turns out before the year closes.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Maxpixel.net

Altcoins

DeFi Wizard Raises $750k from Blockchain Investment Bigshots, to Simplify Multi-chain DeFi Legos

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Bengaluru,, India, 24th February, 2021, // ChainWire //

In order to give shape to their ‘one-click DeFi contracts creation’ dream, Defi Wizard has raised a total of $750,000 from X21 Digital, AU21 Capital, Amsterdam-based TRG Capital, DeltaHub Capital, NGC Ventures, and ExNetwork.

Speaking on latest development Defi wizard founder and CEO, Anand Kamath said: 

“It gives us immense pleasure to announce that our platform, DeFi Wizard has attracted the attention of leading blockchain investors and funds.”

DeFi Wizard aims to help cryptocurrency companies and businesses seamlessly create digital assets, without any hassles, with the objective of becoming an all-in-one token creation platform. 

Investment Usage

This recently concluded fundraising round is an important milestone for Defi Wizard. It will fuel the development of the platform along with operations/maintenance.

Other ways in which Defi wizard will receive assistance is with liquidity bootstrapping for Uniswap listing, alongwith added global and regional promotional efforts to generate awareness for the platform. 

About Defi Wizard

Defi wizard is a dashboard for building DeFi (decentralized finance) smart contracts with a few clicks. It offers real-time programmer analytics and allows users to create smart contracts for ERC20 / BEP20 / EDST, staking, yield farming, governance, cross-chain bridge, gasless relayer baked in.

As per the latest statistics, more than five projects are already using DeFi Wizard’s staking services and more than $100M AUM has been locked through the smart contracts generated through the…

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Altcoins

99Bitcoins takes over the “Dead Coins” project to become the cryptocurrency undertaker

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Singapore, Singapore, 17th February, 2021, // ChainWire //

99Bitcoins, an educational website that maintains a list of Bitcoin obituaries made by the media, has taken over the Dead Coins project as well. This move effectively crowns 99Bitcoins as “The undertaker of the cryptoverse”.

Deadcoins.com was established in late 2017 to document the death of thousands of altcoins that popped up during the cryptocurrency mania of that time. The idea was simple – create a list of coins that have ceased to exist after the hype died down.

A coin can become “dead” due to a variety of reasons such as its development being halted, having no one that uses or trades it, being exposed as a scam and more. While the project was initially maintained only by its founders, it was later outsourced to the cryptocurrency community which was allowed to add their own dead coins.

“I think the dead coins project is a brilliant idea that needs a bit of polishing” says Ofir Beigel, owner and founder of 99Bitcoins. “The fact that anyone can add a dead coin themselves made the list of coins very inaccurate. We’ve spent days going through the complete list and sifted out all of the coins that were buried alive, so to speak. For example, Bitcoin, Tron, Dogecoin and Tether are just some of the coins that were listed when we took…

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Altcoins

99Bitcoins takes over the “Dead Coins” project to become the cryptocurrency undertaker

Published

on

Singapore, Singapore, 17th February, 2021, // ChainWire //

99Bitcoins, an educational website that maintains a list of Bitcoin obituaries made by the media, has taken over the Dead Coins project as well. This move effectively crowns 99Bitcoins as “The undertaker of the cryptoverse”.

Deadcoins.com was established in late 2017 to document the death of thousands of altcoins that popped up during the cryptocurrency mania of that time. The idea was simple – create a list of coins that have ceased to exist after the hype died down.

A coin can become “dead” due to a variety of reasons such as its development being halted, having no one that uses or trades it, being exposed as a scam and more. While the project was initially maintained only by its founders, it was later outsourced to the cryptocurrency community which was allowed to add their own dead coins.

“I think the dead coins project is a brilliant idea that needs a bit of polishing” says Ofir Beigel, owner and founder of 99Bitcoins. “The fact that anyone can add a dead coin themselves made the list of coins very inaccurate. We’ve spent days going through the complete list and sifted out all of the coins that were buried alive, so to speak. For example, Bitcoin, Tron, Dogecoin and Tether are just some of the coins that were listed when we took…

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