Anthony Scaramucci predicts Bitcoin boom from $50,000 to $100,000, here’s when

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Tomiwabold Olajide

Crypto Investors Are Trying To Predict The Potential Timing Of Bitcoin’s Next Bull Run

Skybridge founder Antony Scaramucci has named 2023 a “recovery year” for Bitcoin and estimates that in two to three years the major cryptocurrency could be trading between $50,000 and $100,000.

“You take risks but you also believe in [bitcoin] adoption. So if we get the right adoption, and I believe we will, it could easily be an asset of fifty to one hundred thousand dollars over the next two to three years,” Scaramucci said.

Jean-Baptiste Graftieaux, global CEO of cryptocurrency exchange Bitstamp, also shares a similar view, as he said last week that the next bull run could take place within the next two years. He cited growing interest from institutional investors.

Crypto investors are trying to predict the potential timing of Bitcoin’s next bull run after a rocky 2022. The entire cryptocurrency market lost an estimated $1.4 trillion in value in 2022 due to bankruptcies, liquidity issues, and the collapse of the FTX exchange.

Investors are watching the macroeconomic outlook

Despite a modest rise at the start of the year, similar risk assets like stocks, experts believe Bitcoin has bottomed but is unlikely to retest its all-time high of around $69,000. Investors are keeping an eye on the macro outlook as Bitcoin is heavily tied to risky assets such as stocks, especially the Nasdaq.

The Federal Reserve’s interest rate hikes, along with other macro developments, have impacted stocks and cryptocurrencies. The Fed began an aggressive path of raising interest rates last year to control inflation, which caused the price of risky assets like Bitcoin to plummet. Industry experts have claimed that Bitcoin could benefit from a change in the macroeconomic outlook.

BTC was trading at $20,813 at press time, up slightly from the previous 24 hours. Since the start of 2023, the first cryptocurrency has recorded 13 out of 16 green days.

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