Famous Fund Manager Reveals Bitcoin and Ethereum Price Targets, Points to Promising Altcoin - COINTURK NEWS
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Famous Fund Manager Reveals Bitcoin and Ethereum Price Targets, Points to Promising Altcoin

2:33 pm (49 days ago)
October 18, 2023

Anthony Scaramucci, the CEO of SkyBridge Capital and a renowned fund manager, has provided price targets for Bitcoin (BTC) and Ethereum (ETH). Scaramucci also highlighted Algorand (ALGO) as an altcoin that he expects to make significant gains.

Expecting a Triple Increase in Bitcoin and a Double Increase in Ethereum

In an interview with Altcoin Daily, the famous fund manager Anthony Scaramucci made important statements. Scaramucci stated that the largest cryptocurrency could reach six-figure numbers within a year after the block reward halving, saying:

“I believe there is no reason for Bitcoin not to be at $100,000 within 6 to 12 months from the block reward halving. Based on what I know about demand, the cycle, where miners are, and other factors, combined with some easing in interest rates, this could mean a triple increase. This happened in the technology world everywhere, so it could happen in Bitcoin as well.”

The block reward halving in Bitcoin is the reduction of miners’ rewards in BTC per block, resulting in a decrease in new supply. The next block reward halving is expected to occur in April 2024.

Furthermore, Scaramucci suggested that Ethereum could increase by more than 185% from its current value after Bitcoin’s block reward halving. Although he has a position in Ethereum, the famous fund manager stated, “Am I that close to it? Could Ethereum be $4,500 by then? Why not? You know it’s a great investment tool. Transaction speeds have increased. Layer-2 solutions have helped. Why not? Why not $4,500? These things are maturing.”

Predicting a Double Increase in Algorand (ALGO)

Scaramucci also discussed the smart contract platform Algorand and its token ALGO. He believes that the price of ALGO could increase by over 200%:

“I thought ALGO had already risen, easily going from $1 to $5, but I was mistaken. It is currently trading at $0.09 or $0.10. However, as Algorand continues to evolve, as they continue to gain adoption for what they’re doing, and as they bring in companies that love the technology, could it be a $0.30 token? I believe it could.”

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