A new BTC prediction came from SkyBridge Capital founder Anthony Scaramucci, one of the Bitcoin and cryptocurrency supporters.
At this point, speaking to CNBC's Squawk Box program, Scaramucci said that, based on historical data, BTC could see an increase of approximately 300% after the halving event planned to be held in April.
Pointing out that BTC is currently traded around $63,000, Scaramucci stated that it could reach up to $200,000 after the halving in April and said:
“If you look at the last 14 years, there has generally been a fourfold increase after the halving.
I'm not sure where it will be in or around April when the halving occurs, but let's say it will be around $50,000.
“It means Bitcoin has more than 18 months from the halving to reach the $200,000 target.”
The famous name stated that the main reason behind this price increase was limited supply and that the strong inflow to ETFs also had a significant share in the price increase.
“The price is rising because Bitcoin has a limited supply, and the price increase is also being supported by strong inflows from ETFs, which are seeing inflows of 12 to 14 times the daily production of the network.
“That's why we're seeing these price increases, and of course, that's why people who don't believe in Bitcoin, who are shorting Bitcoin expecting it to drop, are getting screwed right now.”
Bitcoin continues to trade at $63,170 at the time of writing.
*This is not investment advice.
