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November 15, 2023

Bitcoin and Ethereum Set for Rallies: Expert Predictions

Natasha Fernandez
Written byNatasha FernandezWriter
Researched byNikos PapadopoulosResearcher

Introduction

SkyBridge Capital CEO Anthony Scaramucci predicts that Bitcoin (BTC) and Ethereum (ETH) are on the verge of rallies due to a potential Federal Reserve pivot. In an interview on Bloomberg Television, Scaramucci states that he believes the Fed will halt rate hikes, relieving pressure on risk assets. He also anticipates rate cuts by the Fed in early 2022.

Bitcoin and Ethereum Set for Rallies: Expert Predictions

Positive Impact on Stock Prices and Assets

Scaramucci asserts that the positive inflation data and its projected decrease over the next quarter will benefit stock prices and assets. He highlights the sluggishness in the US housing market and expects the Fed to respond by cutting interest rates before the end of Q1. This development is seen as highly favorable for asset prices across the board.

Bullish on Bitcoin and Ethereum

Scaramucci expresses his bullish stance on Bitcoin, Ethereum, and other digital assets, predicting an upward trend in their prices in the near future. He identifies two key catalysts for this crypto uptrend. Firstly, the potential approval of a spot Bitcoin exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC). Secondly, the upcoming halving event in Bitcoin, which will reduce the supply by half in April. Scaramucci believes that the combination of lower supply and increased demand will drive prices higher for Bitcoin, Ethereum, and other currencies.

Long-Term Portfolio Strategy

Scaramucci reveals that his portfolio maintains a concentrated bet on Bitcoin and Ethereum due to their macro overlay. He recalls the resilience of Bitcoin during the Silicon Valley Bank crisis earlier in the year. Despite the concentrated nature of the bet, he expresses confidence in its potential. Scaramucci concludes by emphasizing the importance of staying informed and advises investors to conduct their own due diligence before engaging in high-risk investments.

Conclusion

Anthony Scaramucci's predictions suggest that Bitcoin and Ethereum are poised for rallies. The potential Federal Reserve pivot, along with the approval of a spot Bitcoin ETF and the upcoming halving event, are expected to drive prices higher for these digital assets. Investors are advised to stay informed and exercise caution when making investment decisions.

About the author
Natasha Fernandez
Natasha Fernandez
About

Natasha "CryptoQueen" Fernandez bridges the gap between blockchain buzz and casino charisma. From New Zealand's serene landscapes to the volatile world of crypto, she's making waves in the online gaming sphere. With CryptoCasinoRank, she paints a future where chips meet chains seamlessly.

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