Bitcoin price slides below $49,000
Bitcoin is down fractionally this week, but up more than 104% over the past year
Bitcoin slipped below $48,000 early Thursday, after moving above that level in Tuesday's session.
Cryptocurrencies have come a long way in 2021, including becoming legal tender in El Salvador and some athletes are now asking to be paid in bitcoin.
All this while on the way to an all-time high over $69,000.
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In November 2020, Pomp Investments founder Anthony Pompliano predicted that bitcoin would hit $100,000 in 2021.
That hasn't happened yet but Pompliano told FOX Business' Liz Clayman he's still confident the cryptocurrency will be hitting a major milestone.
"First of all, the year isn't over yet," Pompliano said. "We know at the end of the year bitcoin runs pretty significantly. Don't say it's over yet but a big move would have to occur for that to happen."
"I definitely think we'll see six-figure bitcoin before the next leg of this bull market," he added.
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The topic of regulation has been mentioned throughout the past year.
"It's moving so quickly. To understand the technology is one big challenge and second, understanding exactly what the regulation should be," Pompliano said. "I generally think we have a lot of good faith actors, people who want to figure out what the right solutions are. What they want to do is encourage innovation they want to encourage economic prosperity and job creation in the U.S. but they also want to put some guidelines in place."
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Bitcoin is down fractionally this week, but up more than 104% over the past year.