Speaking on the new episode of “The Best Business Show,” Pompliano said that the transparency of Bitcoin’s on-chain data will attract investors.
Referring to some on-chain data, Pomp predicted that important indicators gave a bullish signal and that investors could move in the direction of buying in the next period.
In the latest report of on-chain data provider Glassnode, a report was presented in parallel with Pomp’s statements. So much so that although it is not yet known whether the bottom is found in the price, it was underlined that many dynamics were formed for the rise.
Pompliano stated that he predicts that Wall Street investors will eventually realize the importance of on-chain metrics and show more interest in Bitcoin and crypto.
Pomp also highlighted data showing that more than half of Bitcoin’s circulating supply has not moved in the past twelve months. Thus, he gave some clues that most investors hold BTC in the long term.
My favorite metric, though, is that 64.5% of Bitcoin hasn’t moved in a year. This market is not liquid. A demand catalyst will be required to raise the price.
Pomp said he wasn’t sure where the demand catalyst would come from, adding that Bitcoin would move “fast once it started.”
Expecting a rapid rally in BTC in the coming period, Pomp implicitly stated that institutional investors would actually act as a catalyst in this rise.