Anthony Pompliano, the founder of venture capital firm Pomp Investments, has made a bold prediction about Bitcoin (BTC). In an interview on CNBC Squawk Box, Pompliano stated that he believes Bitcoin could reach a value of at least $100,000 within the next 12 to 18 months. However, he did caution that Bitcoin might experience a temporary dip in value before reaching this milestone.

Pompliano expressed confidence in Bitcoin’s future, stating that he does not see it falling below $50,000 at any point. He believes that the cryptocurrency has already surpassed a critical threshold and is on an upward trajectory. While he expects Bitcoin to surpass $100,000 in the next year or so, he also mentioned the possibility of it reaching even higher levels, such as $150,000 to $200,000.

Despite his optimism, Pompliano advised against expecting the same explosive growth that has been seen in the past. He believes that while Bitcoin will continue to rise, it will not experience the same dramatic 1,000% gains that were witnessed during previous bull markets.

Pompliano also discussed the recent sell-off of Bitcoin over the weekend. He suggested that the sell-off may have been influenced by limited access to funds held in the banking system and automatic algorithmic selling triggered by international tensions. He mentioned that during moments of fear, people tend to panic and buy dollars, leading to some individuals selling off their Bitcoin. Additionally, he pointed out that the banking system is not open on weekends, making it difficult for investors to add new funds to their crypto accounts.

Furthermore, Pompliano highlighted the role of social media in the sell-off. He noted that the news about Iran, Israel, rockets, and drones quickly spread on Twitter, causing a rapid change in social sentiment and triggering a significant sell-off. He speculated that algorithmic trading may have played a role in this process, as it is unlikely that individuals could have reacted so quickly to the news on Twitter.

At the time of writing, Bitcoin is trading at $63,429, representing a more than 5% increase in the past 24 hours.

Disclaimer: The opinions expressed in this article are not investment advice. It is recommended that investors conduct their own research and exercise caution when making high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades are done at the individual’s own risk, and any losses incurred are the responsibility of the investor. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it provide investment advice. The Daily Hodl may engage in affiliate marketing.