American entrepreneur and Bitcoin enthusiast Anthony Pompliano has once again affirmed his bullish sentiment towards the flagship cryptocurrency. This time, he advised investors on what they should do during this BTC dip and suggested that there is no need to worry despite Bitcoin’s Recent Underperformance.
Bitcoin dips are good for buying
In a interview With FOX Business, Pompliano mentioned that Bitcoin dips are buying opportunities and that any “great investor” who knows what they have understands that they need to buy more when prices move against them. He further claimed that anyone who is wondering whether or not they should buy more during this BTC period soak They may actually not know what they own, hinting at the potential of Bitcoin.
Pompliano made these statements while noting that retail and institutional investors Investors are beginning to realize that Bitcoin is a “resilient” asset that will be worth more in the next five to ten years than it is today. The American entrepreneur also explained how Bitcoin has matured compared to previous market cycles while achieving impressive growth.
He said that Bitcoin experienced multiple price corrections of 30% and 25% during the bull periods of 2017 and 2021. However, things have improved in this market cycle, with the flagship cryptocurrency experiencing only price drop by about 15%. He said this shows that BTC volatility is easing.
Meanwhile, he also noted that BTC has the Spot Bitcoin ETFs in this market cycle, which was lacking during previous bull runs. He believes these funds will be a major catalyst for Bitcoin’s run towards the end of the year. Pompliano predicts that Bitcoin can reach a new all-time high (ATH) before the end of 2024.
However, he warned that BTC may not appreciate as high or as fast as before now that institutions are investing in the flagship cryptocurrency via Bitcoin Spot ETFs. He again noted that this is due to the entry of these institutional investors has dampened Bitcoin volatility.
Thoughts on Ethereum ETFs
Pompliano also gave his opinion on the Ethereum ETFs under the microscope and when they might start trading. He said the funds will likely start trading this summer. He added that they could start trading sooner than expected, given rumors that the Securities and Exchange Commission (SEC) is about to approve these funds.
He believes that Ethereum has a problem that BTC does not have and suggests that this could negatively impact the amount of inflows that the Ethereum Spot ETF attracts. According to Pompliano, Bitcoin has a unique narrative because it is known as “store of value“, which he said was enough to convince investors to invest in the flagship cryptocurrency.
On the other hand, he said that Ethereum has many narratives, which creates a confusing story for the second-largest crypto token by market cap. He noted that this could be a big problem for Ethereum Spot ETFs since institutional investors could easily be confused about what Ethereum is and choose not to invest in these funds.
Featured image created with Dall.E, chart by Tradingview.com
