Scaramucci Highlights Key Factors Why The Crypto Market Will Soon Recover

Anthony Scaramucci cited the merger, improved macro indicators such as lower inflation, key business partnerships and surge in crypto prices as reasons for his optimism for the future.
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Anthony Scaramucci, Founder and Managing Partner of Skybridge Capital, has an optimistic view of the future of crypto markets, advising investors to “see through the current environment” and to “stay patient and long-term ".

In an interview with CNBC, the hedge fund manager said he thinks several recent developments in the crypto arena could trigger "a lot more trading activity."

In particular, he pointed to the ever-improving Lightning Network, the two-layered payment protocol overlaying Bitcoin, BlackRock's partnership with Coinbase, and their subsequent creation of a Bitcoin (BTC) private trust fund as signs positives for the future:

"Finally, CEO Larry Fink is seeing institutional demand for digital assets. Otherwise, he wouldn't be building these products and he wouldn't be teaming up with Coinbase."

“I just want to remind people that there are only 21 million Bitcoins, and you will have a demand shock with very little supply,” he added.
Ethereum merger on the horizon
Scaramucci cited the upcoming Ethereum merger scheduled for September 15, which will change the network's consensus mechanism to proof-of-stake (PoS), as an event that could affect the market price of the second-largest cryptocurrency .

In his view, traders are buying the cryptocurrency based on the potential benefits the merger might bring, but he also notes that they could turn around and sell off just as quickly.

"A lot of traders are probably buying this rumour; they'll probably sell on the news of this merger," he said, adding that "I would advise people not to do this; these are great long-term investments. he added.
Slow but steady recovery over the last month
Despite the ongoing crypto bear market, many top cryptocurrencies have seen modest gains. BTC is up 20% in the last month...

Crypto Aug 15, 2022 0 145 Add to Reading List

Scaramucci Highlights Key Factors Why The Crypto Market Will Soon Recover

Anthony Scaramucci cited the merger, improved macro indicators such as lower inflation, key business partnerships and surge in crypto prices as reasons for his optimism for the future.

Scaramucci highlights key factors why crypto market will soon recover

New

Anthony Scaramucci, Founder and Managing Partner of Skybridge Capital, has an optimistic view of the future of crypto markets, advising investors to “see through the current environment” and to “stay patient and long-term ".

In an interview with CNBC, the hedge fund manager said he thinks several recent developments in the crypto arena could trigger "a lot more trading activity."

In particular, he pointed to the ever-improving Lightning Network, the two-layered payment protocol overlaying Bitcoin, BlackRock's partnership with Coinbase, and their subsequent creation of a Bitcoin (BTC) private trust fund as signs positives for the future:

"Finally, CEO Larry Fink is seeing institutional demand for digital assets. Otherwise, he wouldn't be building these products and he wouldn't be teaming up with Coinbase."

“I just want to remind people that there are only 21 million Bitcoins, and you will have a demand shock with very little supply,” he added.

Ethereum merger on the horizon

Scaramucci cited the upcoming Ethereum merger scheduled for September 15, which will change the network's consensus mechanism to proof-of-stake (PoS), as an event that could affect the market price of the second-largest cryptocurrency .

In his view, traders are buying the cryptocurrency based on the potential benefits the merger might bring, but he also notes that they could turn around and sell off just as quickly.

"A lot of traders are probably buying this rumour; they'll probably sell on the news of this merger," he said, adding that "I would advise people not to do this; these are great long-term investments. he added.

Slow but steady recovery over the last month

Despite the ongoing crypto bear market, many top cryptocurrencies have seen modest gains. BTC is up 20% in the last month...