SkyBridge Capital founder Anthony Scaramucci predicts a big price tag for Bitcoin (BTC) in the coming years. In addition, Scaramucci predicts that there will be a rise for altcoin projects. For this, he does not recommend that crypto investors make instant decisions and act. Here are the details…
Scaramucci hopeful for Bitcoin and altcoin market in the long term
Anthony Scaramucci, a veteran of hedge funds, commented on the cryptocurrency market. In a new interview with CNBC, Scaramucci warns investors to “see the current environment” and resist emotion-based trading. He stated that inflation data is better than expected. Scaramucci uses the following expressions:
You’re getting better-than-expected inflation data… I was looking at the fourth quarter of 2019 – GDP figures, inflation and unemployment figures. If you stop and think, we wouldn’t hesitate. The pandemic has wreaked havoc, we have invested a lot of money in the system, which has caused some inflation. Frankly, we had a disruption in the supply chain. However, we can go back to the fourth quarter of 2019 with a very strong economy, low unemployment and benign inflation. We will probably see data like in the fourth quarter of 2019 after 6-12 months. Frankly, we believe that in the crypto market, most of the leverage is completely outside of this system.
Scaramucci has these altcoins in his portfolio
Scaramucci states that his firm has the largest positions in Bitcoin and Ethereum (ETH), as well as significant positions in ETH competitors Algorand (ALGO) and Solana (SOL). He thinks about the developing Lightning Network, the increase of applications and the ease of transactions in Bitcoin. Therefore, much more commercial activity awaits on the network. He also points to Merge, which is expected to make the Ethereum network cheaper and faster. He states that many investors bought this “news”. Scaramucci’s firm predicts a Bitcoin price of $300,000 in the next six years. The expert name uses the following expressions:
If you’ve been out of the market for the best ten days, you’ve reduced your return from 7.5 percent to 2 percent… I don’t want us to start selling the portfolio based on emotion. Again, our portfolio has grown 45 percent since our last conversation. We did nothing but hold positions and stick to our discipline. I guess that’s the message I’m trying to give to investors… I tell people, ‘Just relax.’ Review your decision.’ We see a pretty optimistic scenario for Bitcoin, Ethereum, Solana and Algorand over the next 12 to 24 months.
As we reported as Kriptokoin.com, the crypto market is on its way to end the last day of the week at high levels. Bitcoin, the largest cryptocurrency, went up to $ 24,800, experts eye when $25,000 is about to break.
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