Bitcoin (BTC) Price Won’t Drop Below $17K Says Hedge Fund CEO Anthony Scaramucc

Hedge Fund CEO anthony scaramucci anthony scaramucci founder at skybridge and saltconference Anthony Scaramucci is an American financier who later served as white house director of communications. He began his career at Goldman Sachs in 1989, in the investment banking division. In 1993, he became vice president of the bank’s private wealth management division.in 1996 he left Goldman and Launched oscar Capital Management with his colleague Andrew Bouchard. In 2005 he founded sky bridge capital, a global alternative investment firm. He is the chairman of the sky bridge Alternative Conference, or the “SALT” Conference launched in 2009. 
 
He received the Ernst & Young Entrepreneur of the year award in the financial Service Category, and in 2016 he was ranked 85 in Worth magazine’s “power 100: The 100 most powerful people in global Finance. He along with restaurateur Eytan Sugarman and financier Nelson Braff founded the Hunt & fish club steakhouse and seafood restaurant in New York City. In 2017 he launched an online media venture called the Scaramucci Post.   EntrepreneurInvestorCrypto and Blockchain Expert Followers : 0 View profile has said that Bitcoin is trading much below its actual fair value right now, and emphasized that Bitcoin might have hit its bottom already. 

In a recent interview with market watch market watch [email protected] MediaEvent Organiser Followers : 0 View profile , the senior hedge fund manager said that, according to his company’s criteria, BTC is currently undervalued and has an actual value of close to $40,000. 

Bitcoin is currently selling at roughly $23,000, which, in Scaramucci’s opinion, is significantly below its true worth by as much as 70%.

Is BTC Bottomed? 

A bottom for Bitcoin in this cycle was also discussed by Scaramucci, who emphasized that the well-known cryptocurrency is extremely unlikely to fall below $17,500, which might be the area. 

He also discussed the acceptance, use cases, wallet size, wallet growth, and other aspects of this particular cryptocurrency, taking into account that his company metrics determine that the current fair market value for bitcoin is close to $40,000.

Are Bitcoin and Ethereum oversold?

Further, Scaramucci made the same point regarding Ethereum. He emphasized that Ethereum’s current trading rates are undervalued and that its fair worth should be around $2,800. 

Scaramucci believes that both Bitcoin and Ethereum are oversold, as shown by the technical market indicators. He made no mention of a potential breakout for either cryptocurrency, though.

The veteran fund manager also talked about the volatility of crypto assets and suggested investors keep their farsight for four to five years while investing or retaining. 

The expert CEO also somewhat predicted a possibility of shallow recession towards the end of the year. He said the slowdown in consumption is a reason for it. However, he was optimistic about employment generation in the market.