The founder of Skybridge Capital revealed his latest prediction for the price of Bitcoin, which could exceed $300,000.
The current price of Bitcoin (BTC) and altcoin is trying to recover, although there was a sell-off earlier this week as the market still seems hesitant to go higher as the global sentiment doesn’t seem that confident yet.
Risk sentiment for crypto assets looks set to improve after lower US inflation data brings boost bullish short-term as the market still seems to be waiting for the latest developments in the crypto industry sphere.
Bitcoin price prediction up to $300,000
Based on the report Bitcoin newsSkybridge founder Anthony Scaramucci revealed his optimistic predictions for the price of Bitcoin in his interview with CNBC.
In the interview, he was asked about crypto winterexpired or not.
Scaramucci responded by saying he wanted to warn investors to watch for signs crypto winter from current global conditions, such as better economic data, lower-than-expected inflation data and US unemployment data.
From there he saw that the majority lever in the crypto market it is completely out of the system. This is a very strong sign of recovery.
“This is a reminder to investors not to back down, fight your own fears, stay patient and stay long-term,” Scaramucci added.
And for Bitcoin in particular, he sees improvements in apps, the Lightning Network, and the ease of BTC transactions. This bodes well for long-term price increases, including adoption in commercial activities.
It also specifically discourages people from investing based on emotion, where they should be more open to global sentiment and proper technical analysis.
Earlier this August, Scaramucci said that the fair value of BTC is US$40,000. He also predicted that the price of Bitcoin will reach 100,000 USD this year and 300,000-500,000 USD in the long term, at least for six years.
And in terms of predictions for the next one to two years, he sees fairly optimistic scenarios for Bitcoin, Ethereum (ETH), Solana (SALT) and Algorand (ALGO). [st]