Skybridge Capital CEO Anthony Scaramucci I recently predicted that Bitcoin will reach $170,000. Scaramucci shed further light on this prediction, stating when it will happen and why he thinks this price level is well within reach.
When Bitcoin price reaches $170,000
in interview Scaramucci, along with Scott Melker, said the price of Bitcoin will reach $170,000. Bitcoin halving. Specifically, he hinted that the crypto token would rise to this price level in 18 months. halving event. SkyBridge Capital’s CEO further explained the basis for his prediction.
Scaramucci said his predictions are based on: Past Bitcoin Halving Cyclesnote that the price of Bitcoin increased approximately 4x 18 months after Bitcoin miner rewards disappeared. cut in half. Since $170,000 represents a more than four-fold increase from $35,000, he expects it to be no different this time, and Scaramucci said this will be the price of Bitcoin when the halving occurs in April. Expect.
Skybridge Capital CEO said: Bitcoin price is $35,000 By April he was just a “conservative.” Scaramucci claimed that if the price of Bitcoin goes even higher, to something like $50,000, the crypto token could rise to $200,000 in the next 18 months. Basically, his basic prediction was that Bitcoin would quadruple in the next 18 months after the halving.
BTC bulls reclaim control | Source: BTCUSD on Tradingview.com
Bitcoin will reach at least half of gold’s market cap
Scaramucci’s long-term prediction is that Bitcoin will “easily” reach half that amount. gold market capitalization, the amount is $13.7 trillion. This means that Bitcoin’s market capitalization, currently around $850 billion, could rise to nearly $7 trillion. If that happens, the CEO of SkyBridge Capital believes the price of Bitcoin will be around 10 times its current price. Rise to $400,000 in the process.
Scaramucci emphasized Bitcoin’s potential, saying it would be “ridiculous” for people not to understand, or at least have some exposure to, the dynamics of Bitcoin as a store of value. he also Spot Bitcoin ETF And we also discuss how institutional demand for flagship crypto tokens will increase following the approval of these funds.
This is not the first time Scaramucci has addressed the impact Wall Street’s adoption of Bitcoin will have on the market.Last September, he predicted that the Bitcoin market would expand once. Asset management companies like BlackRock In their “arsenal” was a spot Bitcoin ETF.
As of this writing, Bitcoin is trading around $43,300, up more than 2% in the past 24 hours. data From CoinMarketCap.
Featured image from Breet, chart from Tradingview.com