{"id":482065,"date":"2022-01-26T20:30:40","date_gmt":"2022-01-26T20:30:40","guid":{"rendered":"https:\/\/wncen.com\/?p=482065"},"modified":"2024-06-11T14:10:55","modified_gmt":"2024-06-11T14:10:55","slug":"anthony-scaramucci-urges-bitcoin-holders-to-think-long-term-as-downtrend-wont-last","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/anthony-scaramucci-urges-bitcoin-holders-to-think-long-term-as-downtrend-wont-last\/","title":{"rendered":"Anthony Scaramucci Urges Bitcoin Holders To Think Long-Term As Downtrend Won\u2019t Last"},"content":{"rendered":"
The bitcoin downtrend has no doubt rocked investors to their core. This is evidenced by the decline of the Fear & Greed Index into the extreme fear territory, reaching as low as 11 on the scale. Investors, understandably, are wary of the market and what the next few weeks, and by extension, months, may hold for them. If this is the beginning of a bear market, then there could be another two-year wait to the next bull rally.<\/p>\n
Anthony Scaramucci has however urged bitcoin investors not to despair during this time. Despite the market crash that sent the digital asset to six-month lows, Scaramucci, who is the CEO of Skybridge Capital, has told investors to look towards the long-term when investing in bitcoin.<\/p>\n
The CEO was on CNBC\u2019s Squawk Box<\/a> to talk about the crypto market. In this interview, Scaramucci shared some insight into how he viewed the market and the current crash, which he does not believe is a cause for alarm. He urged bitcoin buyers to take some time to cool off from the market, advising them to look toward long-term investing instead of what the market is doing right now.<\/p>\n Related Reading |\u00a0Has Bitcoin Reached Its Bottom? Analyst Says It Still Has A Long Way To Go<\/a><\/strong><\/em><\/p>\n Holding bitcoin for the long-term has always been the mantra of bitcoin maximalists, who believe more in the future of the digital asset than what it is doing in the present. Scaramucci has resonated with this in his latest advice. The CEO explained that bitcoin investors need to buy the digital asset for the long-term, as well as other cryptocurrencies which he expects to do well in the future.<\/p>\n <\/p>\n Scaramucci pointed to the fact that a lot of investors say that they are invested in the long-term but yet are fazed by what happens in the short term. \u201cEveryone is a long-term investor until you have short-term losses, and then you start freaking out,\u201d said the CEO. \u201cTake a chill pill, stay long bitcoin, other cryptocurrencies like Algorand and Ethereum, and I think you\u2019re going to be very well-served long-term in those investments,\u201d he advised investors.<\/p>\n Currently, the value of bitcoin is derived from how much it sells when compared to the dollar. This is how investors measure their holdings and how well they are doing in the market. However, Scaramucci rejects this idea of valuing bitcoin in terms of dollar figures and urges investors to just look at the digital asset for what it is; bitcoin. For the CEO, BTC is BTC and the dollar is the dollar.<\/p>\nBTC trading north of $37,000 | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Forget The Dollar, BTC Is BTC<\/h2>\n