Skybridge Capital CEO Reveals When Bitcoin Price Will Reach $170,000


Skybridge Capital CEO Anthony Scaramucci recently predicted that Bitcoin will hit $170,000. Shedding more light on this prediction, Scaramucci stated when this will happen and why he believes this price level is very attainable.

When Bitcoin’s Price Will Hit $170,000

In an interview with Scott Melker, Scaramucci stated that Bitcoin’s price will hit $170,000 after the Bitcoin Halving. Specifically, he hinted that the crypto token was going to rise to this price level 18 months after the Halving event. The Skybridge Capital CEO further explained what he was basing his prediction on.

How To Get Free Crypto  

Scaramucci mentioned that his prediction was based on past Bitcoin Halving cycles, noting that Bitcoin’s price increased about four times 18 months after Bitcoin miners’ rewards were cut in half. He expects that this time won’t be different, as $170,000 represents just over a fourfold increase from $35,000, which Scaramucci predicts will be Bitcoin’s price when the Halving takes place in April. 

The Skybridge Capital CEO stated that his putting Bitcoin’s price at $35,000 by April was him just being “conservative.” If Bitcoin’s price turned out to be higher, at a price like $50,000, the the crypto token will rise to $200,000 in the next 18 months, Scaramucci claimed. Basically, his base prediction was that Bitcoin would do a 4x in the next 18 months after the Halving. 

BTC bulls reclaim control | Source: BTCUSD on Tradingview.com

Bitcoin Will Get To At Least Half Of Gold’s Market Cap

Scaramucci’s long-term prediction is that Bitcoin will “easily” get to half of Gold’s market cap, which stands at $13.7 trillion. That means Bitcoin’s market cap, which currently stands at around $850 billion, could rise to close to $7 trillion. If that happens, the Skybridge Capital CEO believes that Bitcoin’s price will become about 10 times its current price, rising to $400,000 in the process.

Highlighting Bitcoin’s potential, Scaramucci stated that it would be “ridiculous” for people not to understand Bitcoin’s dynamics as a store of value and at least have some exposure to it. He also alluded to the Spot Bitcoin ETFs and how there is bound to be more institutional demand for the flagship crypto token following the approval of these funds.  

Coinbase Banner  

This isn’t the first time that Scaramucci has mentioned the effect that Wall Street’s adoption of Bitcoin could have on the market. In September last year, he predicted that the Bitcoin market was going to widen once asset managers like BlackRock had a Spot Bitcoin ETF in their “arsenal.”

At the time of writing, Bitcoin is trading at around $43,300, up over 2% in the last 24 hours, according to data from CoinMarketCap. 

Featured image from Breet, chart from Tradingview.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Go to Source
Author: Scott Matherson


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.

FreeBitcoin Banner  

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.

You May Also Like

More From Author

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