American entrepreneur Anthony Pompliano advises investors to take advantage of falling bitcoin prices to buy

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American Entrepreneur and Bitcoin Bull Antonio Pompliano reiterated his bullish sentiment for the flagship cryptocurrency. This time, he advised investors on what to do during this BTC drop and suggested that there is no need to worry, even though Bitcoin’s recent delicate performance.

Bitcoin drops are for buying

IN interview from FOX Business, Pompliano mentioned that Bitcoin declines are buying opportunities and that any “great investor” who knows what they have understands that they should buy more when prices move against them. He further argued that anyone wondering whether they should buy more of this BTC, immerse they may not actually know what they have, which alludes to Bitcoin’s potential.

Pompliano made these statements, noting that retail and institutional investors are starting to realize that Bitcoin is a “resilient” asset that will be worth more in the next five to 10 years than it is today. The American entrepreneur also explained how BTC has matured compared to previous market cycles while achieving impressive growth.

He stated that Bitcoin experienced several 30% and 25% price corrections during the bull run in 2017 and 2021. However, the situation has improved in this market cycle, with the flagship cryptocurrency experiencing only price cuts by about 15%. He claimed that this shows that BTC volatility is decreasing.

In the meantime, he also noticed that BTC has Spot Bitcoin ETF in this market cycle that was missing in previous bull markets. He believes these funds will be a major catalyst for Bitcoin’s bull run heading into the end of the year. Pompliano predicts Bitcoin could reach a up-to-date all-time high (ATH) before the end of 2024.

However, he warned that BTC may not appreciate as much or as quickly as it once did as institutions invest in the flagship cryptocurrency through the Spot Bitcoin ETF. He again noted that this is because the entry of these institutional investors confined Bitcoin volatility.

Thoughts on Ethereum ETFs in Place

Pompliano also shared his thoughts on Spot ETFs Ethereum and when they could start trading. He said these funds would likely start trading in the summer. He added that they could start trading sooner rather than later, given the rumors that Securities and Exchange Commission (SEC) is close to approving these measures.

He believes that Ethereum has a problem that BTC does not and suggests that this could negatively impact the amount of inflows that Spot Ethereum ETFS attracts. According to Pompliano, Bitcoin has one narrative, as it is known as “storing value‘, which he believes was enough to convince investors to invest in the flagship cryptocurrency.

On the other hand, he said that Ethereum has multiple narratives, which creates a confusing story for the second-largest crypto token by market capitalization. He noted that this could be a gigantic problem for the Spot Ethereum ETF because institutional investors may easily not understand the essence of Ethereum and refrain from investing in these funds.

BTC price struggles to maintain $60,000 | Source: BTCUSD on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

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