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

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.

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.

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.