While it remains a matter of curiosity how the Bitcoin price will react to the FED's interest rate cut decision and in which direction it will move, the new ATH prediction has arrived.
Speaking to Bloomberg, SkyBridge Capital founder Anthony Scaramucci predicted that Bitcoin would reach an all-time high with the Fed rate cut.
Bitcoin Could Reach $100,000 by the End of the Year!
Making a new ATH prediction for Bitcoin, Scaramucci argued that the BTC price could reach $100,000 by the end of the year after the FED reductions and the US presidential elections.
Scaramucci is optimistic that cryptocurrency regulations will become clearer, especially under the administration of Vice President Kamala Harris, while he said that Harris’ campaign advisors will also support appropriate regulations for the crypto sector.
“We will see pro-cryptocurrency, pro-Bitcoin and pro-stablecoin regulations in the first part of the next congressional term in the US.
I believe there will be bipartisan legislation supported by Republicans and Democrats.”
I Expect the FED to Cut Rates by 50 Basis Points!
Stating that he expects the FED to make a 50 basis point cut today, Scaramucci expects the FED to make a cut of at least 150 basis points in the next 18 months.
“The Fed's rate cuts will be really good for asset prices in the US and globally.
Bitcoin could also reach $100,000 by the end of the year due to the impact of the FED and the US elections.”
*This is not investment advice.