SkyBridge Capital founder Anthony Scaramucci doesn’t think bitcoin’s value will fall below the $17,500 it hit in June. and he also confirmed that The “fair value” of the asset should be $40,000, almost twice the current level.
However, management thinks the BTC price will not rise overnight due to the financial turmoil that has dominated the world like now. And it may take up to 5 years for leading cryptocurrencies to revive.
Anthony Scaramucci Says Worst Bear Market Is Over But assets may continue to decline in the near future. But it shouldn’t drop below the $17.5K level.
“It is possible the bitcoin price will fall further, but I don’t think it will be below the lows reached this round. Which should be around $17,500.”
Scaramucci also argued that “with broad adoption, number of wallets, use cases, and wallet growth,” bitcoin’s “fair market value” should now be around $40,000, and in a way. On the other hand, Ether should be worth around $2,800. However, the head of SkyBridge Capital described the crypto market volatility as a barrier that could hamper the emergence of the next bull market.
Scaramucci has been an outspoken advocate of the digital assets industry for many years, however, it is worth noting that he has repeatedly warned people to view bitcoin and altcoins as investment strategies that can be profitable over the long term.
last month He reiterated his stance byacceptBetting on BTC in the short term is a mistake. “For me, investing in BTC in the short term is a mistake, so I want to measure bitcoin investments over four years. And I think if you hold bitcoin in four years, you’ve made a profit,” Scaramucci said at the time.
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