Anthony Pompliano: Bitcoin Has Entered a New Bull Cycle

As per Anthony Pompliano, founder of Morgan Creek Digital, the quick rebound of Bitcoin after its initial drop earlier in the week indicates that the cryptocurrency has entered a new bullish cycle.

Just a reminder, on Monday, the value of BTC had fallen below $41,000, leading to speculations that the bottom would be reached around $39,000.

Pompliano predicts that this new phase of growth could last up to four years, and we are currently in the early stages of it.

He believes that this surge is driven by the increasing demand from institutional investors and expects that spot crypto ETFs will be introduced in the US as early as January next year.

If the Federal Reserve decides to lower interest rates in the upcoming year, there could be a rise in investments in both the technology sector and cryptocurrencies.

According to Pompliano, the price of $40,000 is a significant level for traders, and at this point, most investors do not wish for the value to drop below this point.