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Skybridge Capital founder Anthony Scaramucci believes Bitcoin (BTC) could witness a “conservative” rally of over 300% in the coming months.
In a new interview with crypto influencer Scott Melker, the hedge fund veteran said it wouldn’t be unusual for BTC to soar to $170,000 after the April halving, when miners’ rewards are cut in half. He said no.
According to Scaramucci, data shows that Bitcoin tends to print cycle tops that are four times the halving price.
“You mentioned my $170,000 prediction…that’s a data-driven prediction. Let’s go back and look at the Bitcoin halving. When you multiply that, it’s amazing that it becomes the price of Bitcoin.
I’m using a $35,000 halving figure, which is a conservative number…let’s say it’s $50,000 in April. That would give you a handle of $200,000. If his current price is $60,000, that’s $240,000. ”
Scaramucci also predicts that over the long term, the price of Bitcoin will remain close to $500,000.
“But my long-term price goal is for Bitcoin to easily reach half the market cap of gold. Gold currently stands at $14.5 trillion. Bitcoin is at $7 trillion or $8 trillion. This is $400,000 worth of Bitcoin, but the reason people don’t understand this asset, don’t understand its dynamics as a store of value, and don’t have a position is that I think that’s ridiculous.”
As of this writing, Bitcoin is worth $42,478.
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Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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