2 months ago 2 min read

Scaramucci Is Certain That "The Bear Market Is Over"

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Anthony Scaramucci, the founder and managing partner of SkyBridge Capital, is optimistic that the bear market is ended given that Bitcoin is currently selling at $28,000.

Since its lows in December, bitcoin has climbed significantly; it has increased by about 70% year to far, and cryptocurrency speculators anticipate further gains.

In an interview on April 6, Scaramucci commented on the Bitcoin held by SkyBridge:

“I would guess right now that we’re through the bear market.”

Scaramucci is confident in his company's investment despite the fact that it is only a guess, stating that we should decide to hold Bitcoin at the appropriate time. He stated:

"But any time that you’ve held Bitcoin in a four-year rolling interval, so you pick the day, hold it for four years, you’ve outperformed every other asset class.”

Prior to the upcoming halving cycle, which is slated to begin in early March 2024, Scaramacci expressed hope for the top cryptocurrency by market valuation.

There are concerns that the US is adopting a policy prohibiting banks from working with cryptocurrencies as a result of the failure of crypto-friendly banks like Silvergate, Silicon Valley, and Signature Bank, which have made it difficult for US-based crypto organizations to find banking partners and liquidity.

Companies that deal in cryptocurrency in the US, such Coinbase and Binance.US, are currently under rigorous government regulation.

The Binance event and inquired as to whether this company had an impact on the market. The market-disrupting variables, such as Binance or FTX, are just temporary, in response, said Scaramucci.

“I think it’s worth mentioning Binance. It is a super-important centralized exchange in our industry. If something happens to Binance, I think there will be a short-term hit.”

At the start of the broadcast, FTX was a topic of discussion. You people are aware that Sam Bankman-Fried and I were dating there. The crypto market suffered from the decline of FTX. But the damage to the market was only momentary. I believe Bitcoin reached $ 16,0. The current price is far above where it was at the time of the scandal's revelation.

At the time of writing, Bitcoin is still shaky at $28,000, and traders are still awaiting indications.

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