{"id":572279,"date":"2024-01-30T16:30:17","date_gmt":"2024-01-30T16:30:17","guid":{"rendered":"https:\/\/wncen.com\/?p=572279"},"modified":"2024-06-11T08:50:25","modified_gmt":"2024-06-11T08:50:25","slug":"when-bitcoin-price-170000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/when-bitcoin-price-170000\/","title":{"rendered":"Skybridge Capital CEO Reveals When Bitcoin Price Will Reach $170,000"},"content":{"rendered":"<p><a href=\"https:\/\/wncen.com\/bitcoin-news\/important-message-bitcoin-holders\/\"><span style=\"font-weight: 400\">Skybridge Capital CEO Anthony Scaramucci<\/span><\/a><span style=\"font-weight: 400\"> recently predicted that <\/span><a href=\"https:\/\/bitcoinist.com\/ceo-these-key-indicators-will-make-or-break-bitcoin\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Bitcoin will hit $170,000<\/span><\/a><span style=\"font-weight: 400\">. Shedding more light on this prediction, Scaramucci stated when this will happen and why he believes this price level is very attainable.<\/span><\/p>\n<h2>When Bitcoin\u2019s Price Will Hit $170,000<\/h2>\n<p><span style=\"font-weight: 400\">In an <\/span><a href=\"https:\/\/www.youtube.com\/watch?v=LIzeqEEGMzY&amp;t=512s\" rel=\"nofollow\"><span style=\"font-weight: 400\">interview<\/span><\/a><span style=\"font-weight: 400\"> with Scott Melker, Scaramucci stated that Bitcoin\u2019s price will hit $170,000 after the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-bull-market-glassnode\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Bitcoin Halving<\/span><\/a><span style=\"font-weight: 400\">. Specifically, he hinted that the crypto token was going to rise to this price level 18 months after the <\/span><a href=\"https:\/\/bitcoinist.com\/why-bitcoin-halving-could-provide-a-big-boost-to-these-altcoins-growth\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Halving event<\/span><\/a><span style=\"font-weight: 400\">. The Skybridge Capital CEO further explained what he was basing his prediction on.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Scaramucci mentioned that his prediction was based on <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-86-on-the-way-halving-previous-cycles-here\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">past Bitcoin Halving cycles<\/span><\/a><span style=\"font-weight: 400\">, noting that Bitcoin\u2019s price increased about four times 18 months after Bitcoin miners\u2019 rewards were<\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-supply-shock-57-of-btc-hasnt-moved-2-years\/\" rel=\"nofollow\"><span style=\"font-weight: 400\"> cut in half<\/span><\/a><span style=\"font-weight: 400\">. He expects that this time won\u2019t be different, as $170,000 represents just over a fourfold increase from $35,000, which Scaramucci predicts will be Bitcoin\u2019s price when the Halving takes place in April.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Skybridge Capital CEO stated that his putting <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-price-35000-decoding-5-major-reasons\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Bitcoin\u2019s price at $35,000<\/span><\/a><span style=\"font-weight: 400\"> by April was him just being \u201cconservative.\u201d If Bitcoin\u2019s price turned out to be higher, at a price like $50,000, the the crypto token will rise to $200,000 in the next 18 months, Scaramucci claimed. Basically, his base prediction was that Bitcoin would do a 4x in the next 18 months after the Halving.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/iKjLHXU3\/\" alt=\"BTC price chart from Tradingview.com (Bitcoin)\" width=\"3266\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">BTC bulls reclaim control | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/pre>\n<h2>Bitcoin Will Get To At Least Half Of Gold\u2019s Market Cap<\/h2>\n<p><span style=\"font-weight: 400\">Scaramucci\u2019s long-term prediction is that Bitcoin will \u201ceasily\u201d get to half of <\/span><a href=\"https:\/\/bitcoinist.com\/one-bitcoin-cost-if-it-reached-market-cap-of-gold\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Gold\u2019s market cap<\/span><\/a><span style=\"font-weight: 400\">, which stands at $13.7 trillion. That means Bitcoin\u2019s market cap, which currently stands at around $850 billion, could rise to close to $7 trillion. If that happens, the Skybridge Capital CEO believes that Bitcoin\u2019s price will become about 10 times its current price, <\/span><a href=\"https:\/\/bitcoinist.com\/multiple-analysts-look-at-400000-as-bitcoins-ultimate-bull-stop\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">rising to $400,000<\/span><\/a><span style=\"font-weight: 400\"> in the process.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Highlighting Bitcoin\u2019s potential, Scaramucci stated that it would be \u201cridiculous\u201d for people not to understand Bitcoin\u2019s dynamics as a store of value and at least have some exposure to it. He also alluded to the <\/span><a href=\"https:\/\/bitcoinist.com\/breaking-spot-bitcoin-etfs-approved-by-us-sec\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Spot Bitcoin ETFs<\/span><\/a><span style=\"font-weight: 400\"> and how there is bound to be more institutional demand for the flagship crypto token following the approval of these funds.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This isn\u2019t the first time that Scaramucci has mentioned the effect that Wall Street\u2019s adoption of Bitcoin could have on the market. In September last year, he predicted that the Bitcoin market was going to widen once <\/span><a href=\"https:\/\/bitcoinist.com\/blackrock-seeded-bitcoin-spot-etf\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">asset managers like BlackRock<\/span><\/a><span style=\"font-weight: 400\"> had a Spot Bitcoin ETF in their \u201carsenal.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, Bitcoin is trading at around $43,300, up over 2% in the last 24 hours, according to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> from CoinMarketCap.\u00a0<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Breet, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Skybridge Capital CEO Anthony Scaramucci recently predicted that Bitcoin will hit $170,000. Shedding more light on this prediction, Scaramucci stated when this will happen and why he believes this price level is very attainable. When Bitcoin\u2019s Price Will Hit $170,000 In an interview with Scott Melker, Scaramucci stated that Bitcoin\u2019s price will hit $170,000 after the Bitcoin Halving. Specifically, he hinted that the crypto token was going to rise to this price level 18 months after the Halving event. The Skybridge Capital CEO further explained what he was basing his prediction on. Scaramucci mentioned that his prediction was based on past Bitcoin Halving cycles, noting that Bitcoin\u2019s price increased about four times 18 months after Bitcoin miners\u2019 rewards were cut in half. He expects that this time won\u2019t be different, as $170,000 represents just over a fourfold increase from $35,000, which Scaramucci predicts will be Bitcoin\u2019s price when the Halving takes place in April.\u00a0 The Skybridge Capital CEO stated that his putting Bitcoin\u2019s price at $35,000 by April was him just being \u201cconservative.\u201d If Bitcoin\u2019s price turned out to be higher, at a price like $50,000, the the crypto token will rise to $200,000 in the next 18 months, Scaramucci claimed. Basically, his base prediction was that Bitcoin would do a 4x in the next 18 months after the Halving.\u00a0 BTC bulls reclaim control | Source: BTCUSD on Tradingview.com Bitcoin Will Get To At Least Half Of Gold\u2019s Market Cap Scaramucci\u2019s long-term prediction is that Bitcoin will \u201ceasily\u201d get to half of Gold\u2019s market cap, which stands at $13.7 trillion. That means Bitcoin\u2019s market cap, which currently stands at around $850 billion, could rise to close to $7 trillion. If that happens, the Skybridge Capital CEO believes that Bitcoin\u2019s price will become about 10 times its current price, rising to $400,000 in the process. Highlighting Bitcoin\u2019s potential, Scaramucci stated that it would be \u201cridiculous\u201d for people not to understand Bitcoin\u2019s dynamics as a store of value and at least have some exposure to it. He also alluded to the Spot Bitcoin ETFs and how there is bound to be more institutional demand for the flagship crypto token following the approval of these funds.\u00a0\u00a0 This isn\u2019t the first time that Scaramucci has mentioned the effect that Wall Street\u2019s adoption of Bitcoin could have on the market. In September last year, he predicted that the Bitcoin market was going to widen once asset managers like BlackRock had a Spot Bitcoin ETF in their \u201carsenal.\u201d At the time of writing, Bitcoin is trading at around $43,300, up over 2% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image from Breet, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":572296,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[91392,428,656,679,1119,89185,1122,1144,78790,83803],"class_list":["post-572279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-anthony-scarmucci","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-skybridge-capital"],"acf":[],"yoast_head":"\n<title>Skybridge Capital CEO Reveals When Bitcoin Price Will Reach $170,000<\/title>\n<meta name=\"description\" content=\"Skybridge Capital CEO Anthony Scaramucci recently predicted that Bitcoin will hit $170,000, using past performance to demonstrate.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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