‘Explosive Returns’ – $200 Billion Equivalent to Predict Cryptocurrency Prices Prepares for a Massive Bitcoin and Ethereum Earthquake

The rise of Bitcoin BTC, Ethereum, and the broader cryptocurrency market after it exploded in 2023 has been halted in its tracks in part by a leak that exposed a secret Democratic plan for a crypto campaign in the United States.

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The price of bitcoin – and to a lesser extent the price of ethereum – has been driven by a narrative that bitcoin is an emerging hedge against inflation, although this week billionaire hedge fund manager Paul Tudor Jones issued a stark warning about inflation.

Now, SkyBridge Capital hedge fund CEO Anthony Scaramucci, best known as US President Donald Trump’s short-lived communications director, has issued a bullish prediction for cryptocurrency prices — shortly after another major bitcoin investor predicted a looming “scramble.”

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More from FORBESLeak Reveals Secret Democracy Plan to Crackdown on Game-Changing US Crypto That Could Harm Bitcoin and Ethereum Price

Bitcoin’s 2023 price rally stalled this month but some bullish investors issued… [+] ‘Explosive’ crypto price predictions that could boost the price of Bitcoin and Ethereum.

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“We intrinsically think bitcoin is worth about $40,000,” Scaramucci told Bloomberg this week, which would imply a 50% increase in the current bitcoin price of about $26,000 per bitcoin, possibly adding about $200 billion to bitcoin’s market cap of 500 billion. dollar.

Bitcoin mining activity and wallet growth has been named by Scaramucci as potentially contributing to the “massive returns” to the Bitcoin price if global wallet adoption rises from 4% currently to 8%, and he predicted that the cryptocurrency market is now “where the Internet was in 1998.” A call to “people to be patient”.

Last month, Forbes revealed that the Himalayan kingdom of Bhutan had built a bitcoin mining operation for years even as the US Biden administration planned a bitcoin mining campaign.

“Global markets are seeing signs of increased purchases of crypto assets, especially in regions that have experienced sharp currency depreciations such as Turkey, Pakistan and Argentina,” cryptocurrency market analyst Noel Acheson wrote in an emailed note.

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MORE FORBEST, ‘THE GAME MAY BE OVER’ Legendary Billionaire Investor Issues Stark Warning Against the Fed Amid Bitcoin, Ethereum, and Crypto’s Wild Price Swings

Bitcoin price has rebounded this year but it is still well below the peak of Bitcoin and Ethereum… [+] Price reached in late 2021.

Forbes Digital Assets

Scaramucci, who earlier this year predicted that 2023 would be the “year of recovery” for bitcoin, put the current bitcoin jitters on hold due to the implosion of bitcoin, ethereum and major crypto exchange FTX late last year — something that sparked a flood of warnings. Regulatory and caused a high-profile billionaire investor to declare “the death of cryptocurrency in America.”

“It was as if John Meriwether and Bernie Madoff had had a child, who was Sam Bankman-Fried,” Scaramucci said. “You’ve got it all in that story. You’ve got fraud, excessive leverage, overconfidence. And it caused a really big depression in the markets. And the market probably overslept.”

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