Anthony Scaramucci Doubles Down on Bitcoin Prediction, Says $170,000 BTC Target Is ‘Conservative’ – Here’s Why

By Sunil Gavhane

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Anthony Scaramucci Doubles Down on Bitcoin Prediction

Anthony Scaramucci Doubles Down on Bitcoin Prediction: Anthony Scaramucci, the creator of Skybridge Capital, is strongly sticking to his prediction that Bitcoin (BTC) will reach a price in the hundreds of thousands of dollars.

In a recent interview with Bloomberg Television, a hedge fund expert mentioned that he still thinks the top cryptocurrency could reach a value of at least $170,000 a few months after the April event that reduces the rewards for miners by half.

The price might go up because there’s a lot of interest in it right now. The network is making 900 coins a day, but the demand is 12 times higher, which is causing the price to rise. I’m sticking with my price prediction because I believe it’s cautious given the current situation.

Scaramucci believes that based on past trends, Bitcoin usually increases four times in value from its price at a halving event to its peak in that cycle.

You can analyze Bitcoin’s price over the last 14 years. Usually, if you take the price when it halves and multiply it by four, that’s where the price ends up in that cycle. So, I used about $50,000 as an estimate for April.

Scaramucci believes that the U.S. government won’t allow the creation of certain Ethereum investment funds in May, leading to a legal battle.

“I believe Gary Gensler and other powerful people don’t support cryptocurrency or the excitement around Bitcoin. They probably don’t want an Ethereum ETF either. So, I think the decision expected in May will be delayed, leading to another lawsuit.”

He might lose the lawsuit. With the election coming, the main question is whether Mr. Gensler will still be the SEC Chairman under a new Joe Biden administration. I think he probably won’t be by then.

Bitcoin’s price is $52,006 right now, and it has dropped a bit in the past day.

Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.

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