SkyBridge Capital founder, Anthony Scaramucci has shed a bullish light on the future price trajectories of Bitcoin BTC/USD, Ethereum ETH/USD, and Algorand ALGO/USD, suggesting hearty targets for these cryptocurrencies, detailing the intrinsic factors that could drive such a bullish trend.
This optimistic outlook comes just ahead of Benzinga's Future of Digital Assets conference on Nov. 14, which aims to delve into the evolving dynamics of digital assets. Discussions about these predictions by Scaramucci could form a riveting part of the narrative as industry experts explore the potential future of cryptocurrencies.
Scaramucci postulates a bullish scenario for Bitcoin, attributing his confidence to the post-halving cycle which historically propels a surge in demand, in an interview with Altcoin Daily.
He states, “I believe six to 12 months after the halving cycle, there’s no reason why Bitcoin couldn’t be at $100,000. Just given what I know about demand and given what I know about the cycle and where the miners are, and so forth, plus, we may get some interest rate relief. That’s a 3x bump.”
His prediction reflects a tripling in Bitcoin’s value, which he analogizes to the technological advancements that have historically witnessed such price surges.
While Scaramucci admits to not being as intimately acquainted with Ethereum, he nonetheless holds a positive stance.
Also Read: Fed Governor Michelle Bowman Says Creation Of US CBDC 'Could Pose Significant Risks'
Highlighting the technological improvements and the increasing utility that Ethereum offers, he said, “Could Ethereum be $4,500 by then? Why not? You know it’s a great utility. Speeds have improved. The layer-2s have helped it. Why not? Why couldn’t it be $4,500? These things are maturing.”
His optimism extends to Algorand, albeit with a tempered tone due to its current trading price. Despite the crypto’s present modest trading range of around $0.09 to $0.10, Scaramucci sees potential for growth.
He envisions a path to $0.30 per token as Algorand continues to develop and garner adoption, especially from corporations enamored by its technology.
He adds, “I’m bullish. I thought at $1 it could have easily gotten to $5... but could Algorand from here... could it be a $0.30 token as they continue their development and continue the adoption of what they’re doing and bringing in corporations that love the technology? I believe it can.”
Read Next: Binance.US Changes Terms: No More Direct Withdrawals Of US Dollars From Platform
Join Benzinga's Fintech Deal Day & Awards on Nov. 13 and Future of Digital Assets on Nov. 14 in New York City to stay updated on trends like AI, regulations, SEC actions and institutional adoption in the crypto space. Secure early bird discounted tickets now!
Photo: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
