The CEO of a well-known company that deals in digital assets stated that he is “more bullish now than I’ve ever been” about the future of Bitcoin. The following statement begs the question: Could Bitcoin possibly hit $100,000 within the year?
Scaramucci Stays Confident: Remains Bullish on Bitcoin Despite Market Challenges
Anthony Scaramucci, CEO of SkyBridge, is still enthusiastic about Bitcoin despite encountering opposition and difficulties because of his involvement in the cryptocurrency sector. He highlighted in a recent interview that he is more optimistic than ever about cryptocurrencies, but highlighted that he is not a blind evangelist.
Scaramucci has encountered significant challenges, such as the bankruptcy filing of FTX in November and his close personal and professional relationships with Sam Bankman-Fried. They worked together on a number of projects, such as the Crypto Bahamas convention and FTX’s $40 million investment in SkyBridge.
Scaramucci expects regulators can adjust despite these difficulties as he now concentrates on Bitcoin’s upcoming development cycle. He thinks that beginning in late 2021 and continuing until the end of 2022, Bitcoin will begin to attract more attention.
Bitcoin’s price may rise as a result of the influence of Scaramucci’s bullish position and increased public interest. The demand for cryptocurrencies may increase as more institutions and investors become aware of their worth and potential, which would raise the price.
Yet, it is crucial to remember that the cryptocurrency market is still quite unpredictable and that other variables, including legislative changes and world economic conditions, can also affect Bitcoin’s value.
Bitcoin Price Action
A narrow band of $30,200 to $30,500 has been the range in which Bitcoin had been trading sideways. Nevertheless, it broke through this range during the US trading day and is currently trading beneath the $29,700 mark, which has now changed from being a support to a resistance.
On the contrary, a bearish breakdown below $29,700 might push the price of BTC all the way down to $29,189.
The Bitcoin price can instead aim for the following resistance levels of $30,700 or $31,000 if there is a bullish crossover above the $29,750 level.