• Anthony Scaramucci of Skybridge Capital is bullish on bitcoin and believes it will reach $40,000 or $50,000 by the end of 2023.
• He points to mainstream media attention and widespread access to wallets as factors driving cycles of rising and falling prices in the BTC market.
• Scaramucci attributes some of the current anti-crypto stance to crypto companies collapsing in America and fraud, over-leverage, and bee swarms caused by new technology.
Anthony Scaramucci’s Bitcoin Bullishness
Anthony Scaramucci of Skybridge Capital is still a big fan of bitcoin – he’s never been more bullish on it than he is now. After recently hitting $30K for the first time in 11 months, 2023 appears to be directing bitcoin on a path that should reverse last year’s damage.
Cycles Caused by Halving Events & Media Attention
Scaramucci points to bitcoin’s boom-bust cycles which coincide with its halving events as well as the increasing media attention given to cryptocurrency. He believes this is leading to a lot of fluctuation within the BTC market.
Fraud & Over-Leverage Damaging Crypto Reputation
The wide availability of wallets has unfortunately also led to an increase in fraud schemes which have damaged crypto’s reputation and legitimacy. This has contributed to Gary Gensler’s anti-crypto stance at the Securities and Exchange Commission (SEC). Furthermore, companies such as FTX, Celsius, and Block Fi have recently collapsed in America due to over-leverage.
Bitcoin Still Incredibly Sturdy & Anti Fragile
Despite all these issues, Scaramucci remains confident that bitcoin is still an „incredibly sturdy“ and „anti fragile asset class.“ He predicts that it will reach anywhere from $40K-$50K before 2023 ends – though there are still people out there trying their best to bring down its price.
In conclusion, while there are several factors working against bitcoin right now – from fraud schemes damaging its reputation to individuals actively trying to bring down its price – Anthony Scaramucci remains firm in his belief that BTC will reach anywhere from $40K-$50K before 2023 ends.