As Bitcoin gears up for its 2024 halving, Skybridge Capital’s Anthony Scaramucci predicts a surge to at least $170,000 post-halving, citing historical patterns.
Halving Dynamics
Skybridge Capital’s Anthony Scaramucci predicts Bitcoin to hit $170,000 after the April halving, citing historical trends on the Scott Melker podcast. The founder highlights the cyclical nature of Bitcoin’s price movements post-halving, projecting a potential surge to at least $170,000 within 18 months.
Scaramucci also drew attention to the conservative estimate, suggesting that if Bitcoin starts at $50,000 in April, it could reach a $200,000 handle.
The long-term outlook is even more optimistic, with Scaramucci envisioning Bitcoin reaching half the market cap of gold, equating to approximately $400,000 per coin.
Contrary Views By BitQuant and Bloomberg
Meanwhile, BitQuant foresees a catalyst for new highs, with a price target of $250,000. Bloomberg Intelligence and Matrixport suggest an 81% increase, anticipating Bitcoin to surpass $50,000 in 2024.
Contrasting Scaramucci’s optimism, BitQuant predicts potential pullbacks, but estimates Bitcoin to hit $250,000 before halving, suggesting that the halving might act as a catalyst. This forecast could impact crypto-related ETFs like SATO and BLKC, benefiting from a surging Bitcoin.
Bloomberg analysts foresee Bitcoin’s recent rebound as the start of a potential rally, projecting Bitcoin to climb beyond $50,000 by 2024. The expected increase is attributed to the upcoming halving in April 2024, triggering an 81% surge in Bitcoin’s value.
Despite positive projections, challenges such as regulatory scrutiny and economic uncertainties linger. Bitcoin, at the time of writing, trading at $43,419.30, faces hurdles to reach previous all-time highs.
Bitcoin’s trajectory, fueled by the oncoming 2024 halving, sparks anticipation among experts. As Scaramucci and BitQuant offer contrasting yet optimistic views, Bloomberg’s forecast reminds investors to tread cautiously.