Anthony Scaramucci Predicts When Bitcoin Can Hit $100K

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As a seasoned investor with a decade-long journey in the stock market and now dipping my toes into the cryptocurrency world, I find myself intrigued by Anthony Scaramucci’s bullish outlook on Bitcoin (BTC). While I’ve had my fair share of ups and downs with Trump, it’s refreshing to see him backing a cause that seems to have potential for growth.

Skybridge Capital co-founder Anthony Scaramucci has once again caused a stir within the crypto community with his bullish remarks on Bitcoin (BTC). The hedge fund manager on Wednesday anticipated a record-high $100K price target for the flagship crypto ahead. This bullish projection is primarily in light of the looming U.S. Fed rate cuts and ongoing presidential elections.

Today, the Bitcoin price reached a new high of $60,000, which strengthens market observers’ confidence, coinciding with Scaramucci’s latest comments.

Anthony Scaramucci Bullish On Bitcoin’s Run To $100K

Based on a Bloomberg report published on September 18th, the founder of Skybridge Capital appears to be optimistic about Bitcoin. This bullish sentiment could be due to the potential upcoming interest rate reductions by the Fed and a more defined regulatory landscape for cryptocurrencies in the U.S., which may become clearer following the November presidential elections.

Scaramucci predicts that during the initial phase of the upcoming U.S. Congress, legislation favorable to cryptocurrencies such as Bitcoin and stablecoins will be established. Simultaneously, he mentioned that this development coincides with potential interest rate reductions by the Federal Reserve.

In light of the country’s current situation, these statements are creating quite a stir. The U.S. Federal Reserve is expected to announce a rate decision later today, with a strong possibility of lowering interest rates. According to the CME FedWatch Tool, there’s a high probability of a 0.5% reduction in interest rates. However, investors are anxiously waiting for Chairman Jerome Powell’s formal announcement.

After being let go as communications director by Republican Trump in 2017, Scaramucci now appears to align himself with the Democratic Party. According to recent reports, Scaramucci maintains a positive outlook on cryptocurrency regulations under the Harris administration, despite their ambiguity and Trump’s clear stance on digital asset regulation. It is important to note that while the Harris administration has signaled its intention to support cryptocurrencies nationwide, no concrete actions have been taken so far in this direction.

At the moment, data from Polymarket shows Harris has a 50% chance of winning, while Trump’s chances are at 48%. Given these statistics, a hedge fund manager commented that this situation could boost U.S. and global asset prices, even suggesting Bitcoin could hit $100K by the end of the year. It is worth mentioning that Anthony Scaramucci previously made a similar prediction about Bitcoin reaching $100K earlier in 2021.

BTC Price Touches $61K

Today, Anthony Scaramucci’s comments about Bitcoin have been more widely discussed due to the significant increase in its price. Currently, Bitcoin is trading at around $60,432, a 3% rise over the past day. The lowest and highest points it reached today were $58,640.59 and $61,316.09, respectively.

The surge in this movement coincides with an investment of approximately $186.76 million into Bitcoin ETFs, according to data from Soso Value, as of September 17th. This trend of increasing investments highlights a growing appetite among institutions for this asset.

Currently, a recent update on CryptoQuant’s platform shows that both new and Binance-based large investors (whales) are accumulating Bitcoin, while older whales remain in their holding positions (HODL). This pattern of behavior has fueled optimism among traders about the potential future price fluctuations of Bitcoin, even amidst recent market volatility.

Moreover, data from Coinglass shows a 4.5% increase in Bitcoin futures Open Interest (OI) to approximately $32.33 billion today. Additionally, the volume of derivatives surged by 53.5%, reaching $73.05 billion. This surge, combined with an upward price movement, suggests that the crypto market is experiencing a positive trend.

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2024-09-18 12:26