“Recovery Year” – Sudden $1 Trillion Crypto Price Boom Sparks Bullish 2023 Bitcoin Price Prediction
BitcoinBTC has surged higher in recent days, hovering back above $21,000 per bitcoin for the first time since the shock implosion of the FTX exchange pushed some other major crypto companies to the brink.
Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and successfully navigating the recent bitcoin and crypto market crash
The bitcoin price rally has pushed the broader crypto market back above $1 trillion, with these smaller cryptocurrencies leaving bitcoin in the dust.
Now Anthony Scaramucci, CEO of SkyBridge Capital and short-time White House communications director under US President Donald Trump, has issued a bullish bitcoin price prediction – forecasting 2023 will be bitcoin’s “recovery year”.
It is in a brutal bear market that you need updated information the most! Sign up for free now CryptoCodex—A daily newsletter for traders, investors and the crypto-curious that will keep you ahead of the market
“You take risks, but you also believe [bitcoin] adoption,” Scaramucci said CNBC during a crypto conference in St. Moritz, Switzerland. “So if we get the adoption right, and I think we will, this could easily become a $50,000 to $100,000 asset over the next two to three years.”
Last year, Scaramucci predicted the bitcoin price could reach $300,000 in just six years and revealed the ethereum challenger he has “a very large position” in.
Elsewhere, Cathie Wood, chief executive of “disruption” investor Ark Invest, has said she has “never seen markets so displaced” in an open letter. “Fear about the future is palpable, but crisis can create opportunity,” Wood said, adding that bitcoin and ethereum haven’t “skipped a beat” despite last year’s price crash.
“Disruptions can appear in surprising forms and at unexpected times,” Wood wrote. “Innovation solves problems and has historically won share in turbulent times.”
Register now for CryptoCodex—A free, daily newsletter for the crypto-curious
Bitcoin and crypto market watchers have credited last week’s cooling inflation data and strong jobs numbers as the catalyst for the latest bitcoin price rally in 2023.
“Over the past week, bitcoin has climbed steadily with ethereum and many other larger-cap altcoins,” Bradley Duke, CEO of crypto exchange-traded products provider ETC Group, said in emailed comments, pointing to “positive economic data in the U.S. , including lower inflation statistics and strong job growth numbers” as the “main driver” of the rally.
Follow me on Twitter.
