Bitcoin Set to Soar to $170K Post-Halving, According to Anthony Scaramucci
As Bitcoin's upcoming halving event approaches within the next few months, there is a prevailing sense of optimism surrounding the potential for the cryptocurrency to achieve remarkable milestones.
Notable figures, such as Anthony Scaramucci, the founder of Skybridge Capital, are among those expressing bullish sentiments, anticipating significant growth for Bitcoin in the year 2024 and beyond.
Scaramucci envisions a scenario where Bitcoin’s value could surge to a minimum of $170,000 over the course of 18 months following the halving scheduled for April. The halving involves a reduction in the rate of new Bitcoin entering circulation by half. Drawing on historical price patterns, Scaramucci notes a consistent trend where Bitcoin tends to quadruple within the 18-month period following previous halving events.
During a recent podcast discussion, Scaramucci emphasized the intriguing pattern of Bitcoin’s value quadrupling within the specified timeframe. He asserted that even if Bitcoin were to trade conservatively at $50,000 before the halving, this could imply a post-halving valuation of $200,000.
READ MORE: Bitcoin’s Potential Rally: New Patterns Spark Analyst Interest
Other optimistic forecasts are emerging, with Blockstream CEO Adam Back suggesting a potential value exceeding $100,000, and analysts at Standard Chartered Bank also expressing expectations of a six-figure valuation.
Taking a more long-term perspective, bullish proponents like Scaramucci anticipate Bitcoin seizing half of the market cap currently held by gold. This ambitious vision could propel the cryptocurrency’s value beyond $300,000 per coin.
Scaramucci acknowledged BlackRock CEO Larry Fink for undergoing a noteworthy shift in stance, transitioning from a previously negative view to recognizing Bitcoin as a form of digital gold.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
