Bitcoin’s volatile sell-off is ‘very natural’: Anthony Pompliano

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Bitcoin’s volatile sell-off is ‘very natural’: Anthony Pompliano

Bitcoin’s (BTC-USD) recent sell-off has caused concern among many investors as the cryptocurrency dropped by over 25% since it’s record high in January.

Professional Capital Management founder and CEO Anthony Pompliano sits down with Yahoo Finance Executive Editor Brian Sozzi at Bitcoin Investor Week to reassure crypto investors of the digital asset’s volatile nature and that bitcoin has historically seen several drawdowns of 30% or more during previous bull markets.

“Really what we’re seeing is just what has always happened, bitcoin is a volatile asset. That’s what people are buying — it’s buying volatility. So if you want bitcoin to go up, you’ve got to be okay with it going down sometimes, and these kind of cooling off periods, or these consolidations, are very natural,” Pompliano tells Yahoo Finance.

Regarding the broader market, Pompliano notes that bitcoin’s current decline is tied to global liquidity: “Bitcoin just happens to be the asset that is most sensitive to global liquidity. Whenever you get that sensitivity, if liquidity is contracting, bitcoin will go down.”

Additionally, the conversation shifts to where Pompliano talks about the potential impact of the US buying bitcoin as part of a strategic bitcoin reserve, suggesting that it could drive prices much higher.

To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.

This post was written by Josh ******

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