The last few days have not been very pleasant for the Bitcoin and altcoin industry as many coins have lost a significant portion of their value. Apparently, his shaky condition does not worry Anthony Scaramucci. In a recent interview, Scaramucci said that such price fluctuations should be viewed as part of the strategy of long-term investors. Cryptocoin. com, we convey the details…
Altcoin investment advice from Anthony Scaramucci
Contrary to many analysts who thought the price drop was the start of a “crypto winter”, Scaramucci reaffirmed his optimistic outlook on the industry. He even recommended that traders “take sedatives” and not sell their positions. He then argued that Bitcoin (BTC) and other cryptocurrencies such as Algorand (ALGO), Ethereum (ETH) should be in a “long position” as he thinks they will serve well in the long run.
Scaramucci has previously made positive comments on the cryptocurrency market. About a short-term crash in November last year, Scaramucci said that now is the perfect time for investors to boost their cryptocurrencies. Despite his positive stance towards the cryptocurrency space, Scaramucci warned investors to scale their BTC investments appropriately.
In September 2021, he issued similar advice advising people not to invest more than 5 percent of their total savings in Bitcoin, the largest cryptocurrency by market capitalization. Thus, in the event of a price increase, solid profits will still be enjoyed, said Scaramucci, manager of the SkyBridge fund. On the other hand, with this small allocation, the loss will be negligible if Bitcoin’s value starts to drop.
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