‘AI and Bitcoin Are on One Big Trade Now,’ Says Anthony Pompliano
Bitcoin has fallen to $67,000, its lowest level since August, sparking panic in the crypto market, according to CoinMarketCap data.
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 urging calm.
In a recent X post published on November 13, Pompliano acknowledged the current market weakness, pointing out that Bitcoin was falling to price levels last seen just three months ago.
AI and Bitcoin connection
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.
AI and Bitcoin are on one big trade now
Pompliano considers the ongoing market movements as evidence that both Bitcoin and AI have become part of one major investment trade, though he did not explicitly explain how they have become connected.
Market reaction
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.
The cryptocurrency'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.
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