Post halving, Bitcoin’s value could surge to $170k.
SkyBridge Capital founder, Anthony Scaramucci, recently shared an optimistic perspective on the future of Bitcoin following the halving event. During an interview on The Wolf Of All Streets Podcast with Scott Melker, Scaramucci suggested that Bitcoin could potentially experience a conservative increase of over 300% in the coming months.
When asked about his bearish outlook on Bitcoin, Scaramucci responded by stating that Bitcoin could reach a cycle top that is four times higher than its halving price. He predicts that Bitcoin could reach $170,000 after the halving in April, based on historical data. Scaramucci also approximates that the peak period for Bitcoin will occur approximately 18 months after the halving event.
Currently, Bitcoin is valued at $42,540 and has shown resilience amidst market fluctuations. This, along with its long-term potential, makes it appealing to both investors and enthusiasts. Additionally, the approval of several Bitcoin spot ETFs further highlights Bitcoin’s increasing popularity and acceptance.
Scaramucci’s positive predictions highlight the potential for significant growth in Bitcoin, especially considering the upcoming halving event. However, there are differing opinions on the impact of spot Bitcoin ETFs on Bitcoin’s price. While some experts anticipate a significant price surge, others believe that the hype around ETFs has faded and traders’ attention has shifted elsewhere.
ARK Invest CEO Cathie Wood previously predicted that Bitcoin’s price could reach $1.5 million by 2030 in a bullish scenario, increasing her estimate by 50% from a previous prediction of $1 million. However, since the approval of ETFs, Bitcoin’s price has dropped to its lowest level, losing approximately $7,000 in value.
Despite this, there are still crypto investors who believe that Bitcoin could surge to over $100,000 this year, with some even predicting all-time high prices ranging from $100,000 to $250,000.
Following the approval of spot Bitcoin ETFs for trading on US exchanges, Bitcoin surpassed $49,000 and reached a local high of $49,102. However, the price subsequently retraced to around $42,000, resulting in notable market volatility.
Investors are closely monitoring the interest surrounding the eleven approved ETFs, with offerings from BlackRock, Fidelity, and various crypto-native companies contributing to swift trading volumes and market enthusiasm.
While the price surge fueled by the ETF launch is evident, the Ether rally against Bitcoin has slowed due to the SEC’s delay in making a decision regarding Ether ETFs. Altcoins have remained relatively stable after a dip, and the stock market continues to reach new highs, driven by robust GDP growth.
In summary, Anthony Scaramucci’s positive outlook on Bitcoin’s future growth, combined with the approval of spot Bitcoin ETFs, has generated excitement and speculation among investors. While there are differing opinions on the impact of ETFs and Bitcoin’s price, the overall sentiment remains optimistic, with predictions ranging from conservative increases to all-time high prices.
