Anthony Scaramucci, founder of Skybridge Capital and one of the leading figures in the financial world, made a groundbreaking prediction in the cryptocurrency market, suggesting that Bitcoin (BTC) could witness a tremendous rally in the coming months. According to the claim made by Scaramucci in his latest interview with crypto phenomenon Scott Melker, the halving event planned in April may initiate a period in which BTC can rise up to $ 170,000.
Scaramucci, known for his experience in the financial world, evaluated the performance of Bitcoin in past halving periods and emphasized that the price of BTC increased significantly despite the decrease in the reward amount. According to Scaramucci, data shows that BTC tends to form a cycle top that is 4x higher than the halving price. If this prediction comes true, it will be a very extraordinary rise compared to previous rallies seen in Bitcoin’s history.
“You mentioned my estimate of $170,000… That is an estimate based on data. Go and look at Bitcoin halving cycles, the price quadruples 18 months after the event.
I’m looking at a $35,000 value for the halving, which is conservative. Let’s say we’re at $50,000 in April, then that would be a $200,000 value. Let’s say we’re at $60,000, it’ll be $240,000.”
Scaramucci also predicts that in the long term, the Bitcoin price could reach half a million dollars.
“But my long-term price target is for Bitcoin to easily reach half the market value of gold. Gold is currently at $14.5 trillion. “If Bitcoin goes to $7 or $8 trillion, that means it will go up 10 times from here.”
NEWS CONTINUES BELOW
However, investors and experts are cautiously waiting to predict Bitcoin’s future performance and adapt to changing conditions in the market. While Scaramucci’s prediction continues to be a major talking point in the cryptocurrency world, investors will try to keep their strategies updated by closely monitoring future developments. In this process, general trends of the cryptocurrency market and global financial factors will also be decisive.
At the time of this writing, Bitcoin was valued at $42,417.
You can follow the current price movement here.