Anthony Pompliano of Morgan Creek Digital said that his fund did not consider the price before halving adequate. According to a respected fund manager, Bitcoin needs to balance profitability again. But when will it come? What will be the price after halving?
Price after halving: History is clear, but coronavirus is a danger
Morgan Creek Digital’s Anthony Pompliano has a very strong base on Twitter. He decided to share with her how the Fund sees developments in the coming days. According to him, the price still has to reflect the approaching halving, which will raise the price of mining.
Pompliano used a simple argument of the demand-supply relationship. The demand would have to fall by 50% at once so that halving could not withstand this pressure. Such a situation may occur with respect to coronavirus, but it does not seem likely. As for the king of cryptocurrencies Bitcoin.
The argument of “the Bitcoin halving is priced in” is dumb.— Pomp ? (@APompliano) April 6, 2020
If incoming daily supply drops 50%, then you would need a 50% drop in daily demand as well to keep the same price.
Good luck if your thesis is built on the idea that demand for Bitcoin is going to drop 50%.
But global markets are still in danger, and everyone expects what happens next.