Former White House Director Predicts Bitcoin Will Still Reach $100k In Next 12-24 Months

Abigal Vee
June 14, 2022
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
anthony scaramucci crypto

Former white house director of communications and founder of Skybridge Capital, Anthony Scaramucci in a CNBC squawk box interview,  shared his thoughts on the current market. He described ongoing situation as a bloodbath, and he speaks about taking buying opportunities.

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A lot of people might regret not buying the dip

The crypto market is currently doing lows that haven’t been seen in months, and even years – the wave of FUD going around is almost palpable as several institutions attempt to salvage the situation. Millions of dollars in outflows have been recorded in several cryptocurrencies.

When asked what he thought of current market conditions, Anthony Scaramucci stated that the ongoing market decline is similar to the crackdown of March of 2000 and that the current bearish sentiment is very close to that of 2009 for both stocks and cryptocurrency but he warns that people remain disciplined.

Scaramucci is however happy that bitcoin still holds more than half of the crypto market capitalization and he is convinced Bitcoin would achieve $100k within 12-24 months. Scaramucci said there are buying opportunities in this bear market, and people should stack up on coins to avoid regret in the future.

The SkyBridge founder also noted that the enormous development in Web3 and the adoption of blockchain will drive long-term gains for survivors in the asset class. On inflation, he predicted that inflation would ease down later this year and supply chain disruptions would stabilize.

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Bitcoin Whales suffer huge loss in value of their holdings as market stays red

Bitcoin touched $23k over the last 24 hours miles away from a former resistance of $30k. This is a low last seen in 2020 and as the whole market feels the devaluation of the largest cryptocurrency, the whales have seen the value of their BTC holdings drop even lower.

Central American country El Salvador owned 2,301 BTC at last count with an average purchase price of $45,171.86, the country is approaching almost 50% In unrealized loss.

MicroStrategy currently owns 129,218 BTC, held at an unrealized loss of 18%, Elon Musk’s Tesla owns approximately 42,000 BTC with a purchase price of $31,620, this leaves the company’s investment down a little over 20% at the time of writing. 

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Abigal .V. is a cryptocurrency writer with over 4-years of writing experience. She focuses on news writing, and is skilled in sourcing hot topics. She’s a fan of cryptocurrencies and NFTs.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.