Anthony Pompliano, the founder of venture capital firm Pomp Investments, has made a bold prediction about the future of Bitcoin. In an interview on CNBC Squawk Box, Pompliano stated that he believes Bitcoin could reach a staggering $100,000 within the next 12 to 18 months.

However, Pompliano also warned that there may be a temporary dip in the price of Bitcoin before it reaches this milestone. He stated, “I think the downside is pretty limited at this point. It’s difficult to say for certain, as unforeseen events can always occur. But I don’t see it dropping below $50,000. We have crossed that threshold.”

On the other hand, Pompliano expressed optimism about Bitcoin’s upward potential. He stated, “I believe we will surpass $100,000 in the next 12-18 months, and perhaps even reach $150,000 to $200,000. However, I don’t think we should expect the explosive 1,000% growth that we’ve seen in the past.”

Pompliano also offered insights into the recent sell-off of Bitcoin over the weekend. He suggested that this may have been influenced by limited access to funds in the banking system and automated algorithmic selling triggered by global tensions. Pompliano stated, “I believe there were three main factors that caused the price sell-off. Firstly, in moments of fear, people tend to panic and buy dollars, leading some to sell their Bitcoin. Secondly, over the weekend, while the Bitcoin market remains open, the banking system is closed, making it difficult to deposit new funds to buy Bitcoin. Lastly, a sudden change in social sentiment due to news on Twitter regarding Iran, Israel, rockets, and drones could have triggered a rapid sell-off. It’s hard to believe that people were able to read those tweets and immediately start selling, so algorithmic trading is likely involved.”

As of now, Bitcoin is trading at $63,429, representing a more than 5% increase in the last 24 hours.

Please note that the opinions expressed in this article are not investment advice. Investors should conduct their own research before making high-risk investments in Bitcoin or other cryptocurrencies. Transfers and trades are done at one’s own risk, and any losses incurred are the investor’s responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it provide investment advice.