Anthony Scaramucci, the founder of Skybridge Capital, continues to be wildly optimistic about the prospects and performance of Bitcoin (BTC), as he now believes that the cryptocurrency could break the 6-digit barrier in 2021.
The hedge-funder made his price prediction in a recent CNBC Squawk Box appearance after he got asked what his BTC price target for the year was. While he cautioned investors over Bitcoin’s infamous volatility, he noted that the overall price trajectory was still very bullish. The Skybridge executive said that “I do think we will see $100,000 in this coin before year-end.” He also noted that the cryptocurrency was seeing an exponential increase in demand while supply continues to thin.
Scaramucci also cited MicroStrategy as a prime example of the number of large investors waiting to jump on the Bitcoin train. The analytics company recently announced that it plans to raise about $900 million through Convertible Senior notes and other Bitcoin acquisitions.
Furthermore, Scaramucci touched upon the previously-mentioned Bitcoin Fund L.P. that got launched earlier this year. Although the founder did not provide any in-depth details on the progress of the fund, he stated that it is “doing quite well.”
Key BTC Levels to Watch — February 18
Bitcoin continues to rip through resistance barriers and has just recorded a new all-time high of $52,668 in the early Asian session. However, the ATH recording got followed by a modest correction to the lower-$51k area.
That said, we expect the correction to persist a bit to the $50k round figure (and possibly lower) in the coming hours. However, it is worth mentioning that the prevailing trendline could provide a good rebound for the benchmark cryptocurrency and limit any further dips.
Meanwhile, our key resistance levels are at $52,668, $53,000, and $53,500. While our key support levels are at $51,000, $50,000 and $48,500.
Total Market Capitalization: $1.58 trillion
Bitcoin Market Capitalization: $965 billion
Bitcoin Dominance: 61%
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