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Anthony Pompliano of Morgan Creek Digital estimates that Bitcoin is in a unique position to experience parabolic growth over the next five years, bringing its market capitalization to $ 5 trillion.
Bitcoin Set for Parabolic Growth
In a tweet published on Monday (April 22, 2018), Pompliano identified bitcoin as the only asset of less than $ 1 trillion that could appear to be multiplied by 50 within 5 years.
Such an increase would see BTC's market capitalization exceed $ 5 trillion and place Bitcoin in the same value class as assets such as gold.
Bitcoin is the only $ 95 billion market capitalization I've ever seen that has a realistic chance of increasing its value by 20 to 50 times over a 5-year period.
Sometimes the best job is the simplest.
– Pomp (@APompliano) April 22, 2019
Currently, the market capitalization of Bitcoin is just under $ 100 billion. The current positive scenario shows that the leading crypto is taking some of the ground lost in the 2018 bear market.
Bitcoin is currently experiencing a resurgence in 2019, up more than 50% since the beginning of the year. The lion's share of this growth came in April with the BTC price 00 gaining about 35% since April 1, 2019.
Pompliano, founder of Morgan Creek Digital and known as Permabull Bitcoin, is not the only one to believe that. Earlier in April 2019, Chris Burniske of Placeholder – a venture capital firm – predicted that BTC could reach $ 1 trillion in market capitalization at the next increase.
Many analysts believe more and more that BTC has reached its low point and is attacking a new cycle of satellite growth. As reported by Bitcoinist Tuesday (April 23, 2019), a golden cross pattern is formed on the price chart of the BTC, further reinforcing the notion of Bitcoin entering a bull market.
BTC, a more mature asset than 2017
According to Pompliano, the next bull cycle of the BTC will include a more mature Bitcoin, based on the technical and market fundamentals, instead of the bullish trend exalted at the end of 2017.
In one Out of the chain In his blog post published on Tuesday, Pompliano highlighted significant improvements to the underlying fundamentals of Bitcoin. An excerpt from the article reads as follows:
Bitcoin is a very volatile asset. It is misunderstood by many. But one thing is certain, digital digital money continues to strengthen over time. As with everything important in life, the maturation and massive adoption of Bitcoin will take time.
Over a two-year period, indicators such as minors' incomes, trading volume and number of portfolios have increased. Over the same period, Bitcoin outperformed markets such as the S & P 500 and gold.
In the last two years, BTC has gained more than 450%, while gains in the S & P 500 index and gold have stood at 19.9% and 1.3% , respectively. In 2019, it also outperforms traditional markets and commodities, including oil and gold.
During the review period, BTC experienced a decline of 80%, which is not surprising considering that it is unique compared to traditional stocks and commodities.
Can the market capitalization of Bitcoin exceed $ 5 trillion by 2024? Let us know your thoughts in the comments below.
Images via Twitter @APompliano, Shutterstock
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