SkyBridge Capital CEO Anthony Scaramucci predicts that Bitcoin (BTC) and Ethereum (ETH) could soar significantly in this market cycle.
Price Targets
Scaramucci believes Bitcoin could reach $170,000 to $250,000, while Ethereum could hit $10,000 to $12,000.
Biden’s Re-election and Crypto’s Future
Scaramucci anticipates that President Joe Biden’s re-election in November will lead to new all-time highs for Bitcoin and other crypto assets.
Institutional Adoption
Scaramucci cites the potential for Bitcoin to be declared an asset class by institutional investors as a major catalyst for its growth. This could lead to increased demand and price appreciation.
Current Market Status
At the time of writing, Bitcoin is trading at $64,163, while Ethereum is at $3,531.
