After an unprecedented billion-dollar bleed... Pompliano predicts an imminent price explosion for Bitcoin. Bitcoin spot exchange-traded funds in the United States have suffered sharp losses, with outflows of about $1.17 billion over five consecutive trading days, marking the longest money bleed since last April, according to data from Farside and CoinMarketCap.
Despite the selling pressures, investor and entrepreneur Anthony Pompliano believes that Bitcoin, at its current level near $113,000, is 'oversold', suggesting it may be undervalued and preparing for a new upward phase as September and October approach, following a summer stagnation and the recent halving process in April 2024.
Pompliano explained in an interview with CNBC that historical market patterns support this view, as the third quarter typically records the weakest performance with an average return of only 6.02%, while growth explodes in the fourth quarter with record gains averaging 85.42%, according to CoinGlass data.
While he is confident in improved performance before the end of 2025, Pompliano ruled out Bitcoin reaching the one million dollar mark in this cycle, but he emphasized that achieving this goal is 'just a matter of time', especially with the anticipated interest rate cut from the U.S. Federal Reserve on September 17 and the increasing pace of major corporate investments in the digital currency.
These statements coincided with the prediction of Coinbase CEO Brian Armstrong that Bitcoin could reach one million dollars by the year.
