Over the past few days, Bitcoin has witnessed a remarkable upward performance, breaking into uncharted territories. Renowned investor and Chief Executive Officer (CEO) of Capital Management, Anthony Pompliano, has dubbed BTC the “Greatest Show on Wall Street” after the recent ferocious surge that brought it back into the spotlight.
When asked about concerns regarding the notion that when economists and analysts have a consensus view on BTC, investors should go the other way, the CEO asserted that this is nothing to be afraid of. This is due to his claims that “economists do not like Bitcoin.”
Another key factor pointed out is Bitcoin Options Expiry. After the options expired at the end of Q2, BTC saw a notable downward pressure, which appears to have served as a launchpad to the recent rally. Finally, the entrepreneur considers the significant liquidations of short sellers as a major part of BTC’s upsurge. As Bitcoin takes out short sellers, Pompliano claims that the flagship asset ultimately went into a price discovery phase.
