With bitcoin currently flirting with the $ 20,000 mark, some cryptocurrency proponents remain optimistic about the medium – term future of the asset. SkyBridge founder Capital, Anthony Scaramucci said he is not worried about the current bear market and that bitcoin will reach $ 100,000 within 12 to 24 months.
A crisis similar to the web company crisis1 in 2000
It was during CNBC’s Squawk Box that the former White House communications chief showed that a bitcoin enthusiast had turned his hopes around. In particular, he revealed the reasons, inviting the same cautious market actors. The CEO of SkyBridge Capital said that The collapse of the cryptocurrency market is similar to that of Web1 companies in 2000. Rather than decisively declining at the time, the web industry was able to draw lessons from this event to subsequently recreate and reconnect.
Scaramucci sees the same scenario playing out with cryptocurrencies as long as investors do their part perfectly. He especially encouraged them to stay in control and leave the storm behind. No unnecessary risks or panic leading to risky bottom-up purchases or anarchic liquidations. He has, however acknowledged that SkyBridge Capital made purchases of bitcoins and ether during this periodimplying that he also believes in a strong recovery for the altcoin.
Bitcoin price rise by almost 400% over the next 12 or 24 months
He was then pleased that bitcoin retains more than half of the total capitalization of the cryptocurrency market, believing this to be proof that the asset is still the winning horse. When it comes to buying potential in this bear market, Scaramucci urged investors to deposit their bitcoins instead to avoid future disappointment. Finally, he made the usual prediction exercise by stating that bitcoin is sure to reach $ 100,000 in the next 12 or 24 months. This represents an increase of almost 400% in view of current bitcoin prices.
The founder of SkyBridge Capital is not the only bitcoin maker who is not falling for the price of the cryptocurrency. This is especially the case of Michael Saylor whose company MicroStrategy holds the largest reserve of bitcoins for a listed company with nearly 130,000 BTC merchants. Despite a loss of more than a billion dollars on this investment, the CEO of MicroStrategy confirmed that the company will continue to be in trouble with HODL.
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Luc Jose Adjinacou
Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and put forward my pen information related to this ecosystem.