SkyBridge Capital’s CEO and hedge fund manager Anthony Scaramucci has made a notable prediction about the future price of Bitcoin. In an interview with CNBC, Scaramucci anticipates that the cryptocurrency could reach a six-figure price tag by 2024. This prediction is based on the halving event set to occur in April, which will cut miners’ rewards in half.
Bitcoin Price Could Hit $200,000
Drawing on historical data, Scaramucci points out that Bitcoin could rise by about 300% following this halving event. He emphasizes that, looking at the last 14 years, Bitcoin’s price typically quadrupled after a halving. Currently trading around $63,000, Scaramucci suggests that a post-halving Bitcoin price of $200,000 is possible.
Bitcoin Price Reclaims $63,000 Mark
Bitcoin’s current price has surpassed $63,000, gaining over 8.4% in the last 24 hours and more than 40% since the beginning of February. Scaramucci attributes the price increase primarily to the limited supply in the market. He also highlights that the amount of Bitcoin entering the market through spot exchange-traded funds is 12 to 14 times the network’s daily production.
Scaramucci notes that this situation contributes to rising prices and that investors who are skeptical of Bitcoin or are short selling are currently in a difficult position. He believes this combination is the reason for the significant price increase. We see that the flagship of cryptocurrencies, Bitcoin, has recovered after a sharp decline last night.
