Republican

Donald Trump

Bitcoin

Reserve

Anthony Scaramucci, the founder of the investment firm SkyBridge Capital, has backed his prediction that bitcoin (BTC) will reach $100,000 before the end of the year with two potential drivers.
In <a href="https://www.bloomberg.com/news/articles/2024-09-18/scaramucci-expects-bitcoin-btc-record-on-rate-cuts-clearer-us-rules" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">a Wednesday interview</a> with Bloomberg, Scaramucci cited interest-rate cuts and more precise crypto regulation after the November election in the United States as crucial players in the leading crypto asset’s rise to a new price height.
<blockquote>
 “We are going to get pro-cryptocurrency, Bitcoin, and stablecoin legislation in the first part of the next congressional term in the US. At the same time, you’re intersecting with rate cuts from the Federal Reserve,” he said.
</blockquote>
<h2 id="why-scaramucci-sees-btc-at-100k">Why Scaramucci Sees BTC at $100K</h2>
The Federal Reserve will announce its interest rate call today. <a href="https://cryptopotato.com/analysts-predict-end-of-bitcoin-consolidation-as-fed-rate-cut-looms/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Words on the street</a> suggest that the Fed will likely reduce its interest rate by a half point, easing Americans’ borrowing costs. Scaramucci supports this expectation, adding that it would “be really good for asset prices in the US and globally.”
The SkyBridge Capital founder prefers crypto-friendly legislation after the U.S. presidential election. He expects bipartisan legislation for the digital asset market backed by Republicans and Democrats.
As campaigns continue, Republican presidential candidate Donald Trump is heavily pro-crypto, <a href="https://cryptopotato.com/robert-f-kennedy-jr-endorses-donald-trump-uniting-pro-bitcoin-candidates/" data-wpel-link="internal" rel="noopener noreferrer nofollow">making various promises</a> to promote assets like Bitcoin if elected. This move has earned him support from crypto enthusiasts in the country.
On the other hand, Democratic presidential nominee Kamala Harris has shown less interest in the industry. However, with Harris <a href="https://cryptopotato.com/ripple-co-founder-endorses-kamala-harris-for-us-president/" data-wpel-link="internal" rel="noopener noreferrer nofollow">winning</a> the trust of some crypto figures, several speculators <a href="https://polymarket.com/elections" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">predict</a> that she could win the election.
Scaramucci expressed conviction that a favorable crypto regulation will be dispensed under Harris’ administration if she wins, referencing conversations with her electoral team.
It is worth noting that Scaramucci has <a href="https://cryptopotato.com/bitcoin-btc-price-prediction-for-the-end-of-2024-by-anthony-scaramucci/" data-wpel-link="internal" rel="noopener noreferrer nofollow">repeatedly stood</a> on a $100,000 price prediction for the leading cryptocurrency before the year ends.
<h2 id="btc-trades-above-60k">BTC Trades Above $60k</h2>
Meanwhile, after seeing a peak price above $73,700 in March, bitcoin has retraced its steps to lower levels. Although the leading crypto asset has been struggling since the start of this month, experts <a href="https://cryptopotato.com/3-bullish-signals-for-bitcoins-price-as-uptober-approaches/" data-wpel-link="internal" rel="noopener noreferrer nofollow">believe</a> it will perform well in October.
At the time of writing, BTC traded at $60,200, representing a 2.67% increase in the past 24 hours.
The post <a href="https://cryptopotato.com/heres-why-scaramucci-expects-bitcoin-to-hit-100k-before-year-end/" rel="noopener noreferrer nofollow">Here’s Why Scaramucci Expects Bitcoin to Hit $100K Before Year-End</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Here’s Why Scaramucci Expects Bitcoin to Hit $100K Before Year-End

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