Bitcoin Magazine: Skybridge’s Anthony Scaramucci Predicts $170,000 Bitcoin Price on CNBC
In just under one week, bitcoin will go through its halving process for the fourth time. The halving reduces the reward for mining bitcoin by 50%. Each of the prior three bitcoin halvings has seen a massive price jump higher.
As with prior halvings, bitcoin prices are already perking up. The cryptocurrency even made a new all-time high ahead of a halving for the first time ever. That could be a sign of strong performance in the months ahead.
This year, investors have more options than ever for investing in bitcoin. The SEC approved trading of 11 bitcoin ETFs, and trading has already begun. These ETFs have attracted billions under management already.
With strong demand and new supply about to be cut in half, that’s a recipe for higher prices. While some have made some big-picture investments, price action for the end of 2024 still looks strong too.
Anthony Scaramucci of Skybridge Capital estimates bitcoin can hit $170,000 in the months after the halving.
That’s about $100,000 higher than current prices, or 142% higher.
And as bitcoin soars higher, altcoins will start to see big moves as well.
That means investors have a few days left to position themselves. After bitcoin’s halving, there may be an initial dip. But looking out a few months, prices could be far higher.
To read the full price prediction on bitcoin, click here.