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Anthony Pompliano Explains Why BTC Is Better Than Fiat Currencies
Published
2 months agoon
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adminFounder of Professional Capital Management Anthony Pompliano has recently commented on the Bitcoin Vs Dollar debate. In a recent interview, he lauded BTC, saying that the fiat currencies are likely more volatile than BTC. Besides, Pompliano has come up with a strong defense for BTC, while highlighting the diminishing purchasing power over time.
Anthony Pompliano Shares Perspective On Bitcoin Vs Dollar Debate
In a recent FOX interview, Anthony Pompliano sparked debate on the Bitcoin vs Dollar. He believes that Wall Street is overcomplicating BTC and failing to see its core value. In his view, crypto simplifies timeless investment principles.
He said that Wall Street likes complex things, but Bitcoin only requires understanding scarcity. He pointed out that there will only ever be 21 million BTC, making it a scarce asset, unlike fiat currencies, which governments can continue printing at will.
However, this comes amid growing institutional interest in BTC. For instance, the US Spot Bitcoin ETF has recorded a robust influx this week, aiding in a rally in the flagship crypto’s price.
Meanwhile, Pompliano went on to explain that traditional investors are often distracted by complex financial products, such as trading and leverage. In contrast, those who have simply bought and held BTC over the years have seen the best returns.
According to Pompliano, this simplicity is the crypto’s true strength. It offers long-term appreciation, which is a principle investors have relied on for centuries. Besides, Pompliano dismissed the argument that BTC volatility makes it less viable as an investment.
Is BTC A Long-Term Hedge Asset?
Amid the Bitcoin Vs Dollar debate, Anthony Pompliano argued that over the long term, BTC value steadily increases, unlike the US dollar, which loses purchasing power over time. He highlighted that the dollar has lost 50% of its purchasing power in the last 30 years, meaning that fiat currency holders are on the losing side of volatility.
In addition, Pompliano also compared the price of real estate in Bitcoin over the years to demonstrate the crypto’s growth potential. In 2016, the average median home in America cost 664 BTC, he said. Today, that same house costs just 6 BTC, a staggering 99% reduction in price when measured in BTC.
Meanwhile, he explained that if someone had invested $5,000 in BTC in 2016, they could now afford to buy a house with that investment. This comparison highlights the crypto’s long-term stability and purchasing power, which Pompliano believes outperforms fiat currencies.
He emphasized that while the dollar’s purchasing power is shrinking, BTC has become an effective store of value and hedge against inflation.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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XRP Price Pumps 7% On Christmas Eve, Will It Reach Yearly Highs?
Published
2 hours agoon
December 25, 2024By
adminThe XRP price is currently enjoying a nice recovery, having pumped over 7% on Christmas Eve. Based on several analyses, XRP could be eyeing a rally to its yearly high of $2.91.
XRP Price Eyes Current ATH Following Latest Pump
The XRP price is eyeing a rally to its current ATH following its 7% gains on Christmas Eve. Crypto analyst Javon Marks recently mentioned that XRP’s 4-hour chart is coming off a Hidden Bullish Divergence confirmation.
He added that this suggests that XRP could recover over 30% to its 2024 high of $2.91, which could be on the horizon. The crypto analyst added that a continuation of this uptrend can lead to a new all-time high (ATH).
Marks is confident that this projected rally is a matter of when not if. In anticipation of this rally, Ripple Whales have accumulated 40 million XRP, which also provides a bullish outlook for the crypto.
Crypto analyst CrediBULL Crypto also provided a bullish outlook for the XRP price. He stated that the XRP/BTC chart looks absolutely “fantastic.” He suggested that a parabolic rally was on the horizon while revealing that he was looking to open another long position.
The crypto analyst added that XRP’s chart is still the most bullish looking in the entire space off the lows. He believes that the crypto is just a “powder key building pressure.”
Double Bottom Pattern Adds To Bullish Sentiment
In an X post, crypto analyst CasiTrades stated that the XRP price has essentially formed a double bottom as it bounces around key Fibonacci levels. The analyst added that XRP is now getting a bullish wave.
However, she warned that the crypto is still under $2.38, meaning that it is still technically within this recent price correction. As the Relative Strength Index (RSI) and price climbs, CasiTrades noted that the structure looks promising and that XRP is still on track for the wave, pushing toward D targets around $2.60.
Her accompanying chart showed that the XRP price could reach this Wave D target by December 26. Thus, she remarked that the crypto still has time to achieve this target.
In the long term, a CoinGape market analysis showed that XRP could still reach double digits as it rises to $10. Fundamentals such as the RLUSD stablecoin and a potential end to the Ripple SEC lawsuit support such bullish projections.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Here’s What To Expect After Pectra Upgrade
Published
5 hours agoon
December 24, 2024By
adminAmid its evolutionary journey, the Ethereum protocol is set to undergo another major upgrade dubbed Pectra in the first quarter of 2025. For a long time, developers have worked on this upgrade, adding and removing EIPs amid functionality review. However, many wondered what comes next after the coming Pectra upgrade. Here is where the Fusaka upgrade comes in.
Ethereum Fusaka Upgrade: The Pectra Enhancer
For various reasons, developers had to drop some improvements initially designated for inclusion in Pectra upgrade. Some of these EIPs will now be a part of the Fusaka upgrade. It is worth noting that the anticipated enhancements will help Ethereum and its associated Layer-2 solutions sustain their Decentralized Finance (DeFi) growth traction.
According to Galaxy Research Vice President and core Ethereum developer Christine Kim, stakeholders have not yet completed the scope of Fusaka as of now. This makes estimating the timeline for its launch fairly harder.
However, she noted that developers will focus on the original 12 code changes in the original Pectra EIPs for Fusaka. These changes are subdivided into EOF Code changes and PeerDAS. When Pectra goes live, developers may now focus on what changes need to go live with Fusaka and which might have to drop.
One of the major Ethereum Improvement Proposals billed for Fusaka is EIP 7549. This EIP will help improve the main chain’s ability to scale through Layer-2 rollups. According to a Galaxy Research note from October, this improvement will “implement a new networking protocol to increase blob capacity while keeping the computational load on nodes unchanged.”
Other major EIPs that will accompany Fusaka include EIP 3670 for “Code Validation” and EIP4750 to enhance “Functions.”
Notably, Fusaka may contain more than the 12 EIPs, a decision core devs will make when the upgrade is fully in focus.
The ETH Price Undertone
Amid the growing competition in the broader DeFi ecosystem, Ethereum L2s remains one of the biggest beneficiaries. However, Ethereum price might also need this upgrade as key fundamental updates might be the missing ingredient to trigger a new run in the the coin’s spot valuation.
Notably, ETH price suffered a major drawdown that pushed it below $4,000 mark over the past few weeks.
As of writing, ETH price was changing hands for $3,479.25, up 1.09% in 24 hours. With more upgrade comes enhanced functionalities which can drive adoption within the ETH ecosystem. This trend may help fuel increased demand for ETH, pushing its price to a new high.
Beyond Pectra and Fusaka, Ethereum developers are also eyeing Beam Chain consensus layer upgrade. Lately, there has been silence regarding this proposition.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Cardano Price Eyes Rally To New Highs As Bull Flag Appears
Published
8 hours agoon
December 24, 2024By
adminThe price of Cardano (ADA) has joined the so-called Santa rally, a trend that is amusing investors after a very volatile week. Earlier, the price of the coin dropped to a 4-week low of $0.7659 and entering a short period of consolidation afterward. With the latest bullish uptick, the digital currency is likely to leverage its bull flag setup to soar higher.
ADA Price and Future Projections
At the time of writing, the price of the ADA has jumped by 6.66% and was changing hands for $0.9412. According to market analyst @Av_Sebastian, there is a whole lot of reasons to agree with the ADA bull flag formation. He presented an ADA/USD 1D chart that shows Cardano breaking out around the $0.93 price mark.
Multiple people have pointed out to me that there might be a huge bullish flag on the $ADA chart and I must agree with them.🫡
Crypto market seems to be turning around, all coins seem to be recovering right now.🔥
Is this the beginning of the Christmas pump?🎄 https://t.co/Tkkh2HGcnP pic.twitter.com/0NQ8jcXRkn
— Sssebi🦁 (@Av_Sebastian) December 24, 2024
Notably, this price level formed a strong resistance for ADA over the past week. With just a few attempts to break above this level within this period, the ongoing rally marks a significant stride. The bull flag is a technical setup formed in periods of consolidation within an uptrend.
If Cardano ends up with a bullish candle on the daily, the coin might eventually break the $1 price mark in the short term. This projection aligns with previous ADA price analysis where top analysts project a $2.60–$2.80 based on Elliott Wave projections.
Is Cardano Undervalued?
Cardano is a Proof-of-Stake (PoS) protocol, considered as an Ethereum killer. Many see the coin as undervalued, considering its growing role in the Decentralized Finance (DeFi) ecosystem.
Despite the growing backlash against the protocol and its founder Charles Hoskinson, the push for growth remains intact. Recently, Hoskinson proposed that the Cardano Foundation should move to Abu Dhabi or Wyoming in a bid to drive community governance.
The protocol, through the Chang hard fork upgrade, has made significant strides to democratize its governance systems. This, and alliances like the Bitcoin DeFi push makes ADA an appealing coin for long term growth.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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