SkyBridge Capital founder Anthony Scaramucci is identifying his price targets for Bitcoin (BTC) and Ethereum (ETH).
In a new interview with Altcoin Daily, Scaramucci says that the king crypto could hit six figures within a year after Bitcoin’s halving event.
“I believe six to 12 months after the halving cycle, there’s no reason why Bitcoin couldn’t be at $100,000. Just given what I know about demand and given what I know about the cycle and where the miners are, and so forth, and plus, we may get some interest rate relief. That’s a 3x bump. That’s happened in the world of technology all over the place, so it certainly could happen to Bitcoin.”
Bitcoin’s next halving event, when miners’ rewards of cut in half therefore reducing new supply, is expected in April 2024.
Bitcoin is trading for $28,472 at the of writing.
Next, Scaramucci says ETH could soar by more than 185% from its current value in six to 12 months after BTC’s halving event.
“Ethereum, I am not as close to, although we do have a position in it. Could Ethereum be $4,500 by then? Why not? You know it’s a great utility. Speeds have improved. The layer-2s have helped it. Why not? Why couldn’t it be $4,500? These things are maturing.”
Ethereum is worth $1,576 at time of writing.
Lastly, the trader weighs in on smart contract platform Algorand (ALGO). He predicts it could increase by more than 200% from its current value.
“I’m bullish. I thought at $1 it could have easily gotten to $5. I’ve gotten this wrong. The thing is trading at $0.09 or $0.10…
But could Algorand from here – because we can only price ourselves today, we can’t go back into the past – could it be a $0.30 token as they continue their development and continue the adoption of what they’re doing and bringing in corporations that love the technology? I believe it can.”
ALGO is trading for $0.092 at time of writing.
I
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE-3
The post Anthony Scaramucci Lays Out Potential Price Targets for Bitcoin and Ethereum, Updates Outlook on Algorand (ALGO) appeared first on The Daily Hodl.
