Scaramucci Sees Bitcoin Grinding but Eventually Moving Back Above $100,000
SkyBridge Capital founder Anthony Scaramucci remains optimistic about Bitcoin's future, despite its current bear market. Speaking at Wyoming's Blockchain Symposium, he said that Bitcoin will push back above $100,000.
Scaramucci attributed the current stall to three factors: miners shifting compute power toward AI, capital fleeing crypto for AI stocks, and the recognition of Bitcoin's 4-year cycle approaching its end phase, roughly 18-19 months from the next halving.
When asked about the potential impact of the Clarity Act, which would remove regulatory pendulum swings between administrations and open new access opportunities for banks, Scaramucci downplayed its significance as a near-term price catalyst. He put the odds of passage at roughly 50-50 and emphasized that the supply-demand differential from the next halving is the more meaningful driver.
Scaramucci noted that this bear market is historically shallow, with a drawdown of around 55%, compared to prior bear markets which saw drops of 75-80%. He argued that this reflects a larger base of net buyers building positions ahead of the next bull phase.