Bitcoin Will Hit $100K In 12 Months, Ex-White House Chief Predicts, Despite Crypto Carnage | Bitcoinist.com

Bitcoinist

Bitcoin has proven itself time and again to recover from any kind of storm and with this, Anthony Scaramucci – the former White House chief of communications and founder of Skybridge Capital – said he stays positive amid all the gloom and negativity in the bear market.

Fears of recession continue to spread among investors ahead of this week’s crucial Federal Reserve meeting and following Friday’s abysmal inflation reading.

How To Get Free Crypto  
5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Inflation reached a 40-year high in May, according to the Consumer Price Index, prompting market observers to anticipate a larger-than-anticipated rate hike of 50 basis points, as opposed to the current forecast of 75 basis points.

Suggested Reading | DeVere Group CEO Predicts A BTC Bull Run In Q4, In Contrast To Peter Schiff’s Gloomy Forecast

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!
As long as market participants remain cautious, "The Mooch" believes that cryptocurrencies will recover from the "carnage." Source: CNN.

Scaramucci Remains Bullish On Bitcoin

Scaramucci disclosed in his recent appearance on CNBC’s Squawk Box why he remains bullish on Bitcoin and Ethereum.

“The Mooch” Scaramucci said he believes cryptocurrencies will rebound from the “carnage” if market players stay prudent, despite the fact that typical pessimistic sentiment currently dominates cryptocurrency and general market headlines.

Six weeks ago, BTC and the entire market were falling because of a historic interest rate hike and the collapse of the Terra network, along with its LUNA and UST coins after the latter lost its peg to the U.S. dollar.

Coinbase Banner  

BTC total market cap at $421 billion on the daily chart | Source: TradingView.com

The head of SkyBridge also compared the current sell-off to the meltdown of web1 firms in 2000, when practically all internet company stocks plummeted.

He advised investors to maintain discipline. Scaramucci, SkyBridge had purchased more Bitcoin and Ethereum in response to host Andrew Dorkin’s question over the phrase “buy the dip.”

In the past 24 hours, Bitcoin has reached $23,000, which is a significant distance away from its previous resistance level of $30,000. As the entire market feels the devaluation of the largest cryptocurrency, the value of the whales’ crypto holdings has dropped to a level not seen in 2020.

Bitcoin Will Reach The Vaunted $100K Price Tag, Scaramucci Says

Scaramucci is pleased that bitcoin still maintains more than half of the market capitalization for cryptocurrencies, and he is confident that Bitcoin will reach $100,000 within 12 to 24 months.

FreeBitcoin Banner  

Scaramucci stated that there are purchasing potential in current weak market, and that investors should stockpile coins to avoid future disappointment.

The market capitalization of all cryptocurrencies fell below $1 trillion on Monday, after breaching the $3 trillion mark in November last year when bitcoin recorded its all-time high.

Suggested Reading | BlockFi And Crypto.com Render Hundreds Of Staff Jobless As Crypto Market Bleeds

Featured image from LinkedIn, chart from TradingView.com

Go to Source
Author: Jet Encila


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.