• Anthony Scaramucci of Skybridge Capital is bullish on bitcoin and believes it will be at $40,000 or $50,000 by the end of 2023.
• Bitcoin has been experiencing “boom-bust cycles” due to its halving process and increased mainstream media attention.
• Fraud schemes have put a damper on bitcoin’s reputation and legitimacy, but Scaramucci believes it is an „incredibly sturdy“ asset class.
Anthony Scaramucci’s Bullishness on Bitcoin
Anthony Scaramucci of Skybridge Capital says he’s never been more bullish on bitcoin as he is now. After all, the world’s number one digital currency by market cap recently hit $30K for the first time in about 11 months, and 2023 appears to be directing bitcoin on a healing path that’s likely to reverse all the damage done during the previous year.
Bitcoin Boom-Bust Cycles
In a recent discussion, Scaramucci commented that bitcoin has been enduring some hardcore boom-bust cycles in which it goes up quite high then crashes down very low. He says this all coincides with the halving process, and how interesting (and coincidental, in many ways) bitcoin is going to endure another halving event next year in 2024. He also says that the mainstream media has been giving bitcoin and crypto a lot more attention as of late. He commented that this is likely leading to a lot of the rising and falling we’re seeing in the BTC cycles.
Fraud Schemes Affecting Bitcoin Reputation
In addition, he says bitcoin wallets have never been available on such a large scale. This, in turn, has led to a bit of an issue in that many fraud schemes have emerged in recent months and years, something that he feels has brought down the reputation and the legitimacy of the space. He commented: What happened almost right on time is the intersection of fraud and over-leverage, which always happens in the age of new technology… The technology that we have now can create a bee swarm.“
< h 2 > Gary Gensler ‚ s Anti – Crypto Stance h 2 > There have been many elements leading up to present anti – crypto stance taken by Gary Gensler , who heads Securities Exchange Commission ( SEC ) . Among them are many crypto companies collapsing America such as FTX , Celsius , Block Fi . Despite this , however , convinced bitcoin incredibly sturdy anti – fragile asset class , believes currency going end year $ 40 , 000 $ 50 , 000 price range .
< h 2 > People Trying To Bring Bitcoin Down h 2 > Some Things Remain way Individuals out there going everything can bring bitcoin down . Among people like Charlie Munger – Warren Buffett ’ s right hand man – Jamie Dimon , head JPMorgan , arguably largest financial institution planet Earth today .
< h 2 > Conclusion h 2 > Despite these challenges facing cryptocurrency markets around world today , Anthony Scaramucci remains big fan . His words make sense given current situation surrounding BTC prices market cap . While fraud schemes put damper reputation legitimacy space time time again , could easily see digital currency hitting record heights before 2023 comes close