Anthony Pompliano Defends Bitcoin Amid Frequent 'Death' Claims from Critics
Anthony Pompliano Says Ignore Screeching Bears That Declare Bitcoin Dead Every 4 Years: 'They Are Wrong Every Time'
Image: Benzinga
Anthony Pompliano, CEO of Professional Capital Management, criticized recurring claims that Bitcoin is 'dead,' urging investors to disregard such predictions. He highlighted that these bearish forecasts have consistently proven incorrect over the years, with Bitcoin's resilience evident despite market fluctuations.
- 01Pompliano advises investors to ignore recurring bearish claims about Bitcoin's demise, stating they are always wrong.
- 02A website tracking Bitcoin obituaries lists 472 instances of predictions declaring Bitcoin dead, with notable figures like Nouriel Roubini and Peter Schiff among the critics.
- 03Pompliano believes Bitcoin sellers are becoming exhausted, indicating potential for recovery based on on-chain metrics.
- 04Market analyst Mike McGlone warns that Bitcoin may still face significant declines, suggesting a support zone at $50,000 and a potential fall to $10,000 in the long term.
- 05Bitcoin's current price is $64,514.16, reflecting a 2.59% decrease in the last 24 hours and trading 49% below its October highs.
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Anthony Pompliano, the CEO of Professional Capital Management, urged investors to disregard the frequent claims that Bitcoin (BTC) is 'dead,' which he argues are made by bearish critics every four years. He expressed his frustration on social media, pointing out that these predictions have consistently proven to be incorrect. According to Bitcoindeaths.com, there have been 472 documented instances of Bitcoin obituaries, with notable critics including economists Nouriel Roubini and Peter Schiff. Schiff alone has declared Bitcoin dead 22 times. Pompliano remains optimistic about Bitcoin's future, citing exhaustion among sellers based on on-chain metrics. However, not all analysts share his optimism; Bloomberg analyst Mike McGlone suggests Bitcoin is not yet at a true bottom, with potential declines looming. As of the latest data, Bitcoin is trading at $64,514.16, down 2.59% in the past 24 hours and significantly below its October highs.
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