The US Bitcoin ETF-based area has posted their longest running out of four months, even though crypto businessman Anthony Pompliano said the price of bitcoin could be resolved today.
In the past five days of trading, spot bitcoin (Btc) ETFs have seen nearly $ 1.17 billion in flows, representing the longest stripes since a seven-day flow of April when Bitcoin traded near $ 79,625, According to In the distance and CoinMarketCap.
Pompliano, however, Says At CNBC on Thursday that Bitcoin is likely to be measured today. It is currently trading at $ 112,870.
Bitcoin headed to a more active purchase period: POMP
“So far at 112, 113,000, it’s pretty oversold,” Pompliano said. He said Bitcoin’s oversold signal, along with Bitcoin approaching September and October, in the year following the division of April 2024, could indicate the price of the owner is ready to move higher.
“People were in front of their screens in September, they were not in front of their screens in August, so people were buying and more active,” he said.
However, just over a week after Bitcoin reached new all-time highs of $ 124,128 on August 14th.
Since 2013, the Q3 has become the weakest quarter of Bitcoin on average, returning only 6.02%, while Q4 has become the strongest, gaining an 85.42% gain, According to In coinglass.
Pompliano said that when people expect to repeat history, this will help encourage purchase.
“If people believe that the end of Q3 and the beginning of the Q4 is a good time for Bitcoin, people are starting to act in a way,” he explained.
Pompliano doubts $ 1 million bitcoin this cycle
Although Pompliano expects to take Bitcoin until the end of the year, he said he doubted that it would hit $ 1 million in this cycle, even in the future.
He added that the speculation around the highly expected September 17 US Federal Reserve Rate Cut, along with Treasury companies raising more funds to buy Bitcoin, could increase demand for Bitcoin.
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“Bitcoin will definitely go to a million at some point in the future, but I just think this cycle is not likely to go to a million dollars,” Pompliano said.
Pompliano’s prediction will only come in one day After Coinbase CEO Brian Armstrong It is said that he has a “rough idea” that Bitcoin should have reached $ 1 million in 2030.
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