The majority of cryptocurrency experts assert that Bitcoin might reach $30,000 this year.

According to Anthony Scaramucci, the creator of Skybridge, 2023 will be a “recovery year” for Bitcoin, and in two to three years, the most popular cryptocurrency may trade at $50,000 to $100,000. “You are taking a risk, but you also believe in the adoption of [bitcoin]. Hence, if the adoption goes smoothly, which I think it will, this could easily be a $50,000 to $100,000 asset over the next two to three years, according to Scaramucci.

Similar thinking was expressed last week by Jean-Baptiste Graftieaux, the global CEO of the cryptocurrency exchange Bitstamp, who predicted that the next bull run might occur within the next two years. He indicated a rise in institutional investors’ interest. Investors in cryptocurrencies are seeking to forecast when the next Bitcoin bull run after a turbulent 2022.

Due to bankruptcies, liquidity issues, and the demise of the FTX exchange, the entire cryptocurrency market lost almost $1.4 trillion in value in 2022. Investors keep an eye on the macroeconomic forecast. Although there was a slight uptick at the beginning of the year, analysts feel that Bitcoin has bottomed out and is unlikely to repeat its all-time high of over $69,000. But, similar-risk assets like stocks may do so.

Because Bitcoin is closely related to risky assets like equities, particularly the Nasdaq, investors are keeping an eye on the macroeconomic forecast. Stocks and cryptocurrencies have been impacted by the Federal Reserve’s interest rate increases as well as other macroeconomic factors.

The price of risky assets like Bitcoin fell as a result of the Fed’s aggressive interest rate hike programme, which it began last year in an effort to curb inflation. According to specialists in the field, Bitcoin could gain from a shift in the macroeconomic outlook.

At the time of writing, BTC was trading at $20,813, a marginal increase over the previous day. The top cryptocurrency has seen 13 out of 16 green days since the start of 2023. “Unless they experience short-term losses, everyone is a long-term investor.”

With Bitcoin reaching greater highs than anticipated in the short term, the cryptocurrency market has just started to show indications of recovery. This came when it was revealed that the United States’ inflation rate was slowing.

The announcement increased the number of investors who were positive on the market. According to Scaramuccia’s Skybridge Capital, the cost of Bitcoin will reach $300,000 in the following six years.

after weighing a number of factors. According to Scaramucci, “two key things have occurred on the institutional side” that will probably lead to an increase in demand for bitcoin.

As one of the justifications for his forecast, he mentioned the financial services firm Fidelity Investments. Businesses are now able to provide their employees the option to put up to 20% of their retirement and savings plan into Bitcoin thanks to Fidelity Investments.
“Fidelity is enabling for their 401k products to accept Bitcoin,” said Scaramucci. He added that Blackrock would play a role in Bitcoin’s comeback as well. Blackrock just now

a partnership with Coinbase was launched to offer clients a private trust through which they may invest in bitcoin.

It is important to note that Blackrock is an investment management company that looks after assets totaling $8.5 trillion. Scaramucci stated of this alliance’s benefits for the cryptocurrency industry, “Finally, CEO Larry Fink is seeing institutional demand for digital assets. He wouldn’t be launching those goods and collaborating with Coinbase if he didn’t… I want to remind people that there are only 21 million bitcoins available and that you will have to use one of them if this stuff happens.

The Lightning Network, a long-awaited improvement to the Bitcoin network, was also referenced by Scaramucci. With this update, Bitcoin will gain a two-layer payment system. The number of blockchain applications is anticipated to rise as a result of this upgrade. It’s also anticipated that the network’s scalability would increase.

In this context, Scaramucci predicted that there would be a significant increase in Bitcoin’s business activity. In response to the recent rise in the price of Ethereum, Scaramucci stated that the network is likely to unite and lower its gas and transaction fees.

And one of the reasons why Ethereum has increased by more than 70% over the past five and a half weeks is because of this. He also thinks that within the next six to twelve months, the world economy can regain its robust 2019 “Fourth Quarter” position. We see a fairly hopeful scenario for BTC, ETH, ALGO, and Solana (SOL) over the next 12 to 24 months, he was reported as saying. “I guess that’s the message I’m trying to deliver to investors; just relax,” he was quoted as saying.

Tai said that the beginning of a bull run is “probably a year away” and that the effects of the FTX crash would continue to be felt for another six to nine months.

The worldwide CEO of cryptocurrency exchange Bitstamp, Jean-Baptiste Graftieaux, told CNBC last week that the next bull run may occur within the next two years because to increased interest from institutional investors.

It will take some time for that confidence to restore, Demirors cautioned, as the events surrounding 2022 “have created huge reputational damage to the sector and to the asset class.”

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