Anthony Pompliano, a partner at Morgan Creek Digital Assets and notable security token advocate, thinks there is more pain ahead for Bitcoin (BTC) investors.

In a recent interview on CNBC’s Squawk Box, Pompliano shared his insights on the current state of the crypto market, notably revealing that he sees Bitcoin dropping below $3,000 in the near-term.

This comes roughly a month after Pompliano first revealed his prediction that Bitcoin will experience an 85% decline from its all-time high before finding a bottom — implying a price floor of roughly $3,000.

BTC/USD via CoinCodex

Pompliano is not the only industry figure that is bearish in the short-term. Veteran technical trader Peter Brandt thinks Bitcoin will test the $3,000 psychological level and head towards $1,200 by the end of Q1 2019.

Bitcoin is currently trading $3,821 with a market cap of $66.6 billion. The leading digital currency traded as high as $4,300 earlier this week as the crypto market staged a major holiday rally.

More: Bitcoin is a non-correlated asset, crypto expert says
Related: Peter Brandt Believes This Bitcoin (BTC) Rally Is a Dead Cat Bounce

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

Voyager