Bitcoin (BTC) volatility weakened in July. As a result, the cryptocurrency is unable to break above $60,000.
Experts such as Peter Schiff believe that institutional investor interest in BTC has declined. The digital currency will become cheaper as big capital has become disillusioned with the asset and is starting to exit.
However, SkyBridge Capital founder Anthony Scaramucci, on the contrary, predicts bitcoin’s growth in the second half of 2024.
By the end of December, BTC could approach $100,000, and next year its price should soar to $170,000. The businessman urges investors to refrain from exiting the cryptocurrency, which has stagnated since early summer.
Payouts to affected customers of the FTX exchange, which went bankrupt in 2022, could be one of the main drivers of the turbulence.
The company’s clients will receive up to $16 billion, and these funds could be invested in digital currency, Scaramucci emphasized.
Donald Trump’s victory in the presidential election will also help the cryptocurrency market.
The legalization of digital assets in the United States will qualitatively change the mood among investors, and they will stop being wary of the new instrument.