Anthony Pompliano Believes Bitcoin Has Never Been So Strong
According to Anthony Pompliano, founder of Pomp Investments, the 200 DMA (Daily Moving Average) for Bitcoin has reached an all-time high above $50,000.
This indicates that the digital currency is currently stronger than ever before. Despite daily fluctuations, Bitcoin continues to rise in value as a long-term investment, and there is no need to worry about temporary sideways trends.
Willy Woo, analyst and co-founder of CMCC Crest, has also pointed out the rapid buying activity of wealthy coin holders, with purchases taking place in the last two months despite fluctuations in price within the $60,000-70,000 range.
These holders are estimated to have between 100 BTC to 1000 BTC, which is equivalent to $6.5 million to $65 million. On the other hand, CryptoQuant has recorded low activity among owners of 1000-10,000 BTC, who are known to provide significant downward volatility in the market.
