Bitcoin (CCC:BTC-USD) price predictions are heating up again and crypto traders may be in for a surprise with how high it goes by the end of the year.
The price of Bitcoin hasn’t been doing well lately. While it experienced a surge earlier this year that pumped it up to $63,000 per token, it wasn’t able to maintain that strength. Instead, BTC has experienced a downward trend that pushed it below $30,000 earlier this week.
However, it might be ready for a turnaround. Anthony Scaramucci believes there are great things in Bitcoin’s future. 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 we established positions in Bitcoin in October. Our cost basis is between $8 and $18,000. I like Bitcoin here, I said to Joe Kernen, your colleague, it’s going to be $100,000 by year-end. I maintain that.
I wanna applaud Cathie Wood for her steadfastness and her conviction related to Bitcoin. Getting Elon Musk and Jack Dorsey together, I think is letting people know the world’s biggest influencers are going to be involved in Bitcoin and scaling Bitcoin, and I don’t want my clients to miss Bitcoin.
If this is Amazon of 1997 to 2000, that’s what I sorta feel Bitcoin is, I don’t want to get juked out of it or faked out of Bitcoin, as it’s scaling to become this apex predator in cryptocurrency.”
BTC was up 1.4% over a 24-hour period on Friday morning.
There’s more crypto coverage for traders down below.
InvestorPlace tracks crypto news daily with our insight into the market. For today that includes what traders need to know about Ethereum (CCC:ETH-USD) competitors, what to buy after the correction is over, as well as price predictions for ETH. You can find all of that at the following links!
More Crypto News for Friday
- 3 Ethereum Competitors to Buy for a Crypto Summer
- 7 Cryptos to Buy After The ‘Correction’ Dust Settles
- Ethereum Price Predictions: How High Will ETH Go After Elon’s Boost?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.