Expert outlined conditions for the possible growth of bitcoin

He believes that a massive purchase of the asset by large investors is necessary for a trend reversal

25.01.2022 - 14:30

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1 min

What’s new? Morgan Creek Digital co-founder Anthony Pompliano explained the conditions under which the value of bitcoin can return to growth. He believes that a massive purchase of the asset by large investors is needed to reverse the trend.

Pompliano’s Livestream on YouTube

What else did Pompliano say? The expert said that the “whales” were left out during the last sharp correction, which saw BTC lose more than 50% of its value.

“There is still a lack of large buyers. In order for us to see a material move in price upwards, there needs to be an uptick in whale activity. They start buying, and then price follows.”

What is the current value of bitcoin? On January 24, the price of the first cryptocurrency dropped to the $32 900 level for the first time since July 2021. As of January 25, the asset is trading around $36 400. The value of the asset has risen by almost 5% in 24 hours.

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