Bitcoin

When Will Bitcoin Hit $100K? Anthony Scaramucci Predicts Timeline

Author: Elena R

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Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Story Highlights
  • Anthony Scaramucci predicts that Bitcoin's value will rise to between $50,000 and $100,000 in 2-3 years.

  • The cryptocurrency markets are seeing a return of capital, with bitcoin up 26% and Ethereum up 29% so far this year.

After the collapse of FTX, Bitcoin has managed to soar above $21,000 per coin. 

Despite the upheaval of 2022, cryptocurrency traders remain uncertain about the onset of the next bull run. Attendees at a recent crypto conference in St. Moritz, Switzerland, described 2023 as a year of caution. Industry experts anticipate that Bitcoin will continue to exhibit range trading, volatility, and sensitivity to macroeconomic factors, such as interest rate increases.

Is A BTC Bull Run Near? 

Several industry participants discussed bitcoin cycles, which occur once every four years, in CNBC interviews. History displays that Bitcoin usually reaches an all-time high before crashing. There will be a poor year and a minor recovery year. 

2023 is a “recovery year” for bitcoin, according to SkyBridge Capital founder Anthony Scaramucci. He also projected that in two to three years, it may trade at $50,000 to $100,000.

“You’re betting on [bitcoin’s] widespread acceptance, which means you’re also taking on risk. This could easily be a $50,000 to $100,000 asset in the next two to three years if we handle the adoption properly.”

On the other hand, stressing renewed interest from institutional investors, Bitstamp’s worldwide CEO Jean-Baptiste Graftieaux told CNBC last week that the next bull run might occur within the next two years.

After a rocky 2022, cryptocurrency investors are seeking to forecast the likely time of the following Bitcoin bull run. Due to bankruptcies, liquidity issues, and the demise of the FTX exchange, the entire cryptocurrency market lost almost $1.4 trillion in value in 2022.

Here’s What You Should Expect. 

Experts have stated that while Bitcoin has likely reached its bottom, it is unlikely to regain its all-time high of $69,000. Cryptocurrency is closely tied to risk assets such as stocks, particularly the Nasdaq, and investors are closely monitoring macroeconomic forecasts. 

Observers have also noted that the Federal Reserve’s interest rate hikes and other macroeconomic factors have had an impact on both equities and cryptocurrencies. 

Bitcoin experienced a decline last year as the Fed aggressively raised interest rates to combat inflation. However, experts have also stated that a shift in macroeconomic conditions may provide a boost to the cryptocurrency. 

It is worth mentioning that experts believe it will take some time for confidence to be restored in the asset class, as the scars of the recent market fluctuations are deeper than expected.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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