Financial Expert's Prediction for Bitcoin Halving: Buckle Up, Price Will Rocket!

Anthony Scaramucci, the founder of SkyBridge Capital, claimed that the next Bitcoin halving, which is expected to take place in April, will catapult the price to $170,000.

The forecast is based on the “halving” event, which halves the rate of BTC production and occurs approximately every four years. The financial expert builds on Bitcoin’s steady track record of reaching all-time highs.

Scaramucci has long stated that BTC is a better store of value than gold. The financial expert does not hesitate to compare the asset’s high-return potential to Amazon shares.

In an interview with Scott Melker last week, Anthony Scaramucci said, “Go back and look at Bitcoin’s halving cycles.”

When is the Bitcoin Halving?

According to data from CoinGecko, Bitcoin’s last halving took place on May 11, 2020, and on that day, the asset recorded a closing price of $9,670. Almost exactly 18 months later, the asset hit a record high of $69,000. In the previous halving, the BTC was $656 on July 16, 2016, and $19,783 in December 2017.

This time, Scaramucci says that the $170,000 price target is “too tight” and is based on the price of Bitcoin reaching $35,000 by the time the halving occurs in April 2024. As of Monday, the BTC had recorded a closing price of $43,000.

As Koinfinans.com reported, Scaramucci argues that in the long run, Bitcoin will “easily” reach half of gold’s market capitalization, which currently stands at $13.6 trillion. This means that the coin will reach a price of $323,000.

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