Anthony Pompliano, BTC Bull, Anticipates Potential Demand and Supply Shock for Bitcoin – Insights Await

Renowned Bitcoin (BTC) Bull Anthony Pompliano Foresees Two Potential Shocks That Could Spark a 2020-Style Bull Market Rally in the Coming Months

In a recent CNBC interview, Pompliano expressed his belief that regulators will eventually grant approval for a spot-based Bitcoin exchange-traded fund (ETF).

According to the seasoned venture capitalist, the cryptocurrency market could experience a robust bull market if the authorization of a Bitcoin ETF coincides with the next BTC halving event.

"We already have futures-based ETFs. I am confident we will see the introduction of a spot Bitcoin ETF. The key question is when this will occur.

What many fail to acknowledge is that the launch of this ETF will serve as a demand shock. Significant capital is poised to flow into the industry upon its approval. Moreover, as we approach the halving event, we'll concurrently experience a supply shock due to the halving itself. I anticipate a scenario reminiscent of 2020, where we witnessed substantial price gains if these events align."

The forthcoming Bitcoin halving, which halves the rewards for BTC miners, is projected to take place in April 2024.

Pompliano anticipates substantial institutional interest in Bitcoin as soon as a Bitcoin ETF becomes available.

"While retail investors have had means to gain exposure to Bitcoin over the past few years, institutions like sovereign wealth funds and large financial entities aren't simply buying spot Bitcoin on exchanges like Coinbase. This is where the potential inflow from ETFs could make a significant impact."

As of the time of writing, Bitcoin is trading at $25,872.

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Sep 04, 2023

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