Anthony Scaramucci, founder of SkyBridge Capital, announced the next meeting, which is expected to take place in April. Bitcoin He claimed that the halving would skyrocket the price to $170,000.
The prediction is based on a “halving” event that occurs approximately every four years, halving the BTC production rate. The financial expert builds on Bitcoin’s consistent track record of reaching all-time highs.
Scaramucci has long continued to state that BTC is a better store of value than gold. The financial expert does not hesitate to compare the asset’s high return potential to Amazon shares.
Anthony Scaramucci in a conversation with Scott Melker last week. in the interview “Go back and look at Bitcoin halving cycles,” he noted.
It’s uncanny that the day BTC halved, multiply that by four and 18 months later that’s the price of Bitcoin.
When is Bitcoin Halving?
According to CoinGecko data, Bitcoin’s last halving occurred on May 11, 2020, and on that day the asset recorded a closing price of $9,670. Almost exactly 18 months later, the asset broke a record, reaching an all-time high of $69,000. In the previous halving, BTC was $656 on July 16, 2016, and $19,783 in December 2017.
This time around, Scaramucci says his $170,000 price target is “too tight” and is based on a Bitcoin price of $35,000 when the halving occurs in April 2024. As of Monday, BTC had recorded a closing price of $43,000.
As Koinfinans.com reported, Scaramucci argues that in the long run, Bitcoin will “easily” reach half the market value of gold, which is currently $13.6 trillion. This means that the price of the coin will reach the price of $323,000.