As Bitcoin’s price continues to fall further, sparking a fresh wave of panic across the broader crypto market, renowned Bitcoin advocate Anthony Pompliano has issued a statement to investors.
In a recent X post published by the pro-Bitcoin advocate on November 13, Pompliano urged investors to remain calm even as Bitcoin revisited $67,000 for the first time since August.
Not enough to panic
While Pompliano acknowledged the current market weakness, pointing out that Bitcoin was falling to price levels last seen just three months ago, he urged Bitcoin investors to remain calm.
While addressing Bitcoin's price decline, Pompliano related the situation to AI, another fast-growing technology, drawing attention to the growing relationship between the two sectors.
Pompliano considers the ongoing market movements as evidence that both Bitcoin and AI have become part of one major investment trade.
Although he did not explicitly explain how Bitcoin and AI have become one big trade, it appears that Pompliano is raising awareness of how closely investors may now view the two major investment products in the technology and financial markets.
As such, Pompliano is urging investors to remain positive about Bitcoin’s long-term potential, suggesting that the same market forces driving interest in AI could also influence a potential recovery for Bitcoin.
Bitcoin retests $67,000
Pompliano’s comment has come as Bitcoin faces renewed selling pressure, retesting its three-month low at around $67,000 after declining over 5% in the last 24 hours.
Source: CoinMarketCap Bitcoin’s current price movements have raised questions about whether the decline signals a deeper market correction or simply another temporary setback, causing commentators to disagree with Pompliano’s call for confidence.
