Former white house director of communications and founder of Skybridge Capital, Anthony Scaramucci in a CNBC squawk box interview, shared his thoughts on the current market. He described ongoing situation as a bloodbath, and he speaks about taking buying opportunities.
A lot of people might regret not buying the dip
The crypto market is currently doing lows that haven’t been seen in months, and even years – the wave of FUD going around is almost palpable as several institutions attempt to salvage the situation. Millions of dollars in outflows have been recorded in several cryptocurrencies.
When asked what he thought of current market conditions, Anthony Scaramucci stated that the ongoing market decline is similar to the crackdown of March of 2000 and that the current bearish sentiment is very close to that of 2009 for both stocks and cryptocurrency but he warns that people remain disciplined.
Scaramucci is however happy that bitcoin still holds more than half of the crypto market capitalization and he is convinced Bitcoin would achieve $100k within 12-24 months. Scaramucci said there are buying opportunities in this bear market, and people should stack up on coins to avoid regret in the future.
The SkyBridge founder also noted that the enormous development in Web3 and the adoption of blockchain will drive long-term gains for survivors in the asset class. On inflation, he predicted that inflation would ease down later this year and supply chain disruptions would stabilize.
