Prediction: BTC All-Time High Before 2024 Ends
Anthony Scaramucci, CEO of SkyBridge Capital, predicts that Bitcoin (BTC) will reach its all-time high before the end of 2024. This comes after the United States Securities and Exchange Commission (SEC) approved the launch of spot Bitcoin exchange-traded funds (ETFs), providing retail investors with access to the leading digital asset.
SEC Approval Accelerates Crypto Adoption
The recent approval of 11 spot Bitcoin ETFs by the SEC is seen as a significant milestone for Bitcoin and the broader digital asset market. It gives retail investors an alternative to the traditional financial system and is expected to accelerate crypto adoption.
Scaramucci’s Bullish Outlook
Scaramucci believes that the SEC’s decision is a “really big breakthrough” for Bitcoin and digital assets in general. He expects BTC to surpass its previous all-time high by the end of this year and continue its upward trajectory in the coming year.
Bitcoin’s Rollercoaster Journey
Bitcoin experienced a price surge in November 2021 but faced a significant decline along with the rest of the crypto market in 2022. However, it rebounded in 2023, fueled by excitement over the spot Bitcoin ETF approval and other upcoming events like the fourth Bitcoin halving.
SEC’s Endorsement of BTC
In Scaramucci’s view, the SEC’s decision to allow investors to add Bitcoin to their brokerage accounts is a peculiar form of endorsement for the cryptocurrency. Despite experiencing a challenging year in 2022, SkyBridge had a successful 2023 after gradually acquiring BTC, ETH, and SOL.
Ceremonial Buyer
When asked if he would purchase the newly approved ETFs, Scaramucci confirmed that he would be a ceremonial buyer, indicating his confidence in Bitcoin’s future prospects.
Hot Take: BTC Primed for New All-Time High
With the SEC’s approval of spot Bitcoin ETFs and predictions from industry experts like Anthony Scaramucci, it seems highly likely that Bitcoin will reach a new all-time high soon. This development is expected to drive further adoption of cryptocurrencies and solidify Bitcoin’s position as a leading digital asset.
By
By
By
By