The founder of crypto investment firm Morgan Creek Digital Assets says he believes the price of Bitcoin will soon drop below $3,000.
“Short term, I actually think we have lower to go,” Anthony Pompliano told CNBC’s Squawk Box in a new interview.
Pompliano also says he disagrees with analysts who see a correlation between the performance of FAANG stocks (Facebook, Apple, Amazon, Netflix and Google) and cryptocurrency.
“Bitcoin’s definitely a non-correlated asset. If you look at the correlation between the digital asset and the S&P 500 over the last 180 days, it’s at zero. If you look at it compared to the dollar index, it’s near zero. So I think that it’s proved it’s not correlated, and we expect that to continue.”
Meanwhile, Ripple says it’s focusing on adoption of xRapid and XRP in 2019.
In a new episode of The Ripple Drop, Ripple’s senior vice president of product Asheesh Birla talks about the commercial launch of xRapid, which utilizes XRP to power cross-border payments.
“One of the really exciting things about xRapid is that not only did we get the product launch technically, but we got it live in Mexico, and we got it live in the Philippines as well. We want to bring xRapid to more corridors. We’re looking at what specific corridors have regulatory clarity that we need, but also solve a big pain point for our customer.”
Finally, BitMEX CEO Arthur Hayes says he believes the ICO market will come back to life in 18 months or less.
In a new interview with Cointelegraph Japan, Hayes says the return of the ICO market will trigger a rise in the price of Ethereum.
“Once there are new issues, then Ether will rebound aggressively. When the ICO market returns, Ether will quickly test $200. The timing of the ICO rebirth is 12 to 18 months out.”
Hayes also believes investors will be attracted to security tokens next year, although he thinks STOs are ultimately “nothing new.”