Amidst the volatile cryptocurrency market, predictions continue to surface, including expectations of a rise before the Bitcoin halving. Anthony Scaramucci of SkyBridge has once again provided his insights on Bitcoin’s future, suggesting that the price could exceed $170,000 by 2025, following the 2024 halving. He bases this prediction on data patterns observed from past halving events.
Scaramucci elaborated on the potential post-halving scenarios for Bitcoin, noting the historical correlation between halvings and subsequent price movements. He anticipates challenges in the market cycle before the anticipated rise.
Citing previous data, he mentioned that Bitcoin’s price typically quadruples 18 months after a halving. Assuming a possible downturn to $35,000 before the halving, he predicts a rise to $170,000, and if the price is at $50,000 during the halving, it could reach $200,000.
Scaramucci also commented on the legal battles involving the SEC, highlighting Grayscale’s lawsuit which criticized the SEC’s practices as “arbitrary and capricious” in its rejection of converting Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF.
For the long-term, Scaramucci sees a potential tenfold increase in BTC’s value, which would require its market cap to reach at least half of gold’s current $14.50 trillion valuation. At the time of writing, Bitcoin was trading just above $39,600, marking a 1.21% increase.