3 big benefits to support you! Tianqiao Capital founder says Bitcoin is expected to hit 100,000 mark this year

This site (120BTC.coM): After a thrilling week, the cryptocurrency market gradually regained its footing. Bitcoin climbed back to $59,000 today (10th). Investors repeatedly asked "when Can reach new highs." In this regard, some analysts pointed out that there are still downside risks in the mid-term trend of Bitcoin. However, in terms of medium- and long-term prospects, Anthony Scaramucci, founder of Skybridge Capital, believes that the price of Bitcoin is still expected to double.

Anthony Scaramucci expressed his views on the price of Bitcoin in an interview with "CNBC" on Monday. He pointed out that although Bitcoin has fallen by 17% in the past month, he is optimistic that Bitcoin will exceed $100,000 before the end of this year. Then continue to attack the target price of $170,000.

According to Anthony Scaramucci, Bitcoin is still supported by three major positive factors:

1. Funds flow back into the currency market

Anthony Scaramucci believes that Bitcoin investors are about to usher in a wave of "compensation", and they are very Some of it may be put back on the market. In addition to Mt. Gox, which has begun to compensate creditors and customers for US$9 billion in cryptocurrency, another bankrupt exchange, FTX, is also planning to repay the vast majority of its customers, and the total repayment is expected to be as high as US$16 billion.

He said that since many of these investors are "hardcore supporters" of Bitcoin, it is estimated that about 40% to 50% of the compensation will eventually be reinvested into the cryptocurrency market.

Anthony Scaramucci said when talking about FTX customer deposits:

Among the assets frozen due to the bankruptcy of the exchange, Bitcoin accounts for the majority, but unfortunately, almost all of these assets were liquidated into US dollars at low prices. Expected to be back in the hands of those account holders soon, we believe the vast majority of funds will flow into Bitcoin again.

2. Bitcoin is becoming more mainstream

Anthony Scaramucci also mentioned that US lawmakers have proposed a bill to establish a regulatory framework for cryptocurrencies, which is a positive sign that Bitcoin is becoming more widely accepted. A store of value tool, which will benefit the long-term development of Bitcoin.

He then added: “In the draft of the Republican party platform, it is also clearly mentioned that it will support digital assets, especially the protection of Bitcoin. To me, the conclusion is obvious, that is, Bitcoin will become a long-term sustainable asset in the United States. Accepted asset classes. "

3. No matter how strong the selling pressure is, it will eventually be exhausted

Anthony Scaramucci said that part of the reason for the decline in Bitcoin prices is "temporary selling pressure." He gave the example that the halving event intensified the selling pressure on miners, while Mt. Gox initiated compensation and some investors took profits, which also put downward pressure on Bitcoin.

However, no matter how strong the selling pressure is, there will eventually be a day when it becomes exhausted. Anthony Scaramucci said this is consistent with the views of other analysts, who all expect Bitcoin to recover from the downturn in the coming months as sellers gradually exit.

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