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Anthony Scaramucci Warns Against Emotional Trading and Predicts Massive Gains for Bitcoin in the Years to Come

SkyBridge Capital founder Anthony Scaramucci advises crypto investors not to rush into reactions as he predicts huge price increases for years to come Bitcoin (BTC) predicted.
In a new interview with CNBC, the hedge fund veteran urges investors to “read the current environment” and resist emotion-based trading.

“The inflation data is better than expected… I was just looking at the fourth quarter numbers. [of] 2019 – the GDP numbers, the inflation and unemployment numbers.

And if you think about it, we’ve been on hiatus, the pandemic has wreaked this havoc, we’ve put a lot of money into the system, leading to a certain inflation and of course there was the supply chain disruption. But you could very well go back to the fourth quarter of 2019, which was a very strong economy, low unemployment and benign inflation — that’s probably six to 12 months away, and I think the market is starting to see that. Of course, with the crypto market, we think most of the leverage is gone from this system.”

Scaramucci notes that his firm’s largest positions are in Bitcoin and Ethereum (ETH)as well as significant positions in ETH competitors Algorand (ALGO) and Solana (SOL).

“We think that’s improving Lightning Network, the growth of applications and the ease of transactions on Bitcoin – you will see a lot more commercial activity there. And of course there is The Merge with Ethereum, which will reduce transaction fees on this network. Many traders are likely to buy this rumor.”

According to Scaramucci, his firm forecasts a Bitcoin price of $300,000 in the next six years.

“If you’re not in the market for the 10 best days, the return goes from 7.5% to 2%… I don’t want us to start that portfolio shift based on emotions. Again, since we last spoke, we’re up 45%. All we did was hold positions and stick to our discipline. I think that’s the message I want to convey to investors…

I tell people, ‘Just relax. Look through that.’ We see a fairly bullish scenario for Bitcoin, Ethereum, Solana and Algorand over the next 12-24 months.”


Featured Image: Shutterstock/Kris Leov/monkographic/S-Design1689

Source: Crypto News Deutsch

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