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Scaramucci Says Some Alts Had Their ‘Last Hurrah’
In a recent interview with Bloomberg, American financier and Bitcoin enthusiast Anthony Scaramucci did not rule out the possibility of a major correction that could push Bitcoin’s price back to the $60,000-$70,000 range. However, he remains bullish on the cryptocurrency market in the long term.
Scaramucci’s remarks come as Galaxy Digital CEO Mike Novogratz recently predicted a surge in Bitcoin’s value, but also warned about inevitable corrections. Notably, CoinGlass data has shown that another $1.05 billion worth of crypto assets have been liquidated over the past 24 hours due to extreme market volatility.
Such severe corrections often occur when there is heightened market exuberance. Scaramucci’s warning echoes the sentiments expressed by Novogratz, as both experts acknowledge that significant corrections are inevitable in the cryptocurrency market.
In his interview with Bloomberg, Scaramucci also downplayed concerns surrounding MicroStrategy’s debt, stating that only a prolonged Bitcoin bear market lasting up to seven years could potentially lead to the company’s collapse.
Source: u.today
