•With Bitcoin falling in recent days, traders are starting to make money after peaking near $49,000 last week after the SEC approved Bitcoin ETFs, and some say this is just a temporary pause, and we should expect much bigger gains in BTC over... Medium range.
•This is particularly the case with Anthony Scaramucci, of hedge fund SkyBridge, who estimated on Monday in an interview at the Reuters Global Markets Forum in Davos that the price of bitcoin could reach $170,000 in 2025, driven by demand for bitcoin and ETFs that... Recently launched, reduction planned for April.
•“If Bitcoin is at $45,000 at the halving, as it is now, it will reach $170,000 by mid-to-late 2025,” Scaramucci said.
•Remember, a halving is a technical event that occurs on the Bitcoin network approximately every 4 years, which halves the reward given for each block mined, reducing the growth rate in the supply of new Bitcoins.
•Scaramucci also said: “Whatever the price is on the April halving day, multiply it by four and it will reach that price in the next 18 months.”
•As for BTC's correction from last week's highs, Scaramucci attributed the decline to the rotation of investors from Gray Scale Bitcoin Trust to new funds, adding that it will likely take another eight to 10 trading days to feel the impact of ETFs on the price of cryptocurrencies. .
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