Bitcoin (CC:BTC USD) price predictions are heating up again and crypto traders may be a surprise with how high it goes by the end of the year.
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Bitcoin’s price has not been doing well lately. While it experienced a surge earlier this year pushing it to $63,000 per token, it was unable to maintain that strength. Instead, BTC has experienced a downward trend that took it below $30,000 earlier this week.
However, it may be ready for a turnaround. Anthony Scaramucci believes there are great things in the future of Bitcoin. The financier has experience working at Goldman Sachs (NYSE:GS) and is the founder of Oscar Capital Management and SkyBridge Capital.
Here’s what he said when asked about his Bitcoin price predictions during an interview on: CNBC’s Squawk Box.
“So remember that we took positions in Bitcoin in October. Our cost base is between $8 and $18,000. I love Bitcoin here, I said to Joe Kernen, your colleague, by the end of the year it will be $100,000. I maintain that.
I want to commend Cathie Wood for her steadfastness and her conviction regarding Bitcoin. Bringing Elon Musk and Jack Dorsey together I think it lets people know that the world’s biggest influencers will be involved in Bitcoin and Bitcoin scaling, and I don’t want my clients to miss Bitcoin.
If this is Amazon from 1997 to 2000 that’s what I think Bitcoin is, I don’t want to be chased out or counterfeited out of Bitcoin as it scales to become this apex predator in cryptocurrency.
BTC rose 1.4% over a 24-hour period Friday morning.
There is more crypto coverage for traders below.
InvestorPlace follows crypto news daily with our insight into the market. For today, that includes what traders need to know Ethereum (CC:ETH USD) competitors, what to buy after the correction is over, as well as price predictions for ETH. You can find all that via the following links!
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At the date of publication, William White had no (direct or indirect) positions in the securities referred to in this article. The opinions expressed in this article are those of the author, subject to the InvestorPlace.com Publication Guidelines.
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