Anthony Scaramucci, the founder of SkyBridge Capital, has stated that Black Friday has given traders the perfect opportunity to buy Bitcoin (BTC) and other cryptocurrencies. The former Comms director explained that people should take advantage of the decline the crypto market is currently going through in order to make themselves richer.
The businessman talked about the current market situation during an interview with CNBC on Saturday, 27th November. Scaramucci, however, doesn’t think that BTC slipping below the $54,000 level is as drastic and important as many make it seem.
“If the Fed is not tapering, this is a buying opportunity. It’s Black Friday, and things are on sale,” he said.
Scaramucci encouraged investors to keep their cool as, in his opinion, this is just a market overreaction to the new Covid-19 variant.
“If you believe in the long-term fundamentals as we do, this is the time to be buying. I just think this is a risk-off situation right now. Bitcoin and other cryptocurrencies being volatile, that’s taking people out of the game. That’s also washing out some of the leverage, which I think sets up a pretty nice first quarter,” the investor added.
He thinks that this drop is a compelling reason to inject money into strategic investments as government monetary policies do not give much reason to be optimistic. Scaramucci has previously said that even the $60,000 Bitcoin price looks very attractive to him. He believes that Bitcoin might reach $500,000 in the future.
Scaramucci is just one of the bullish investors who are currently calling for investors to buy Bitcoin as soon as possible. For example, Sylvia Jablonski from Defiance ETFs made sure to buy big when the cryptocurrency hit $54,000. She said that it’s difficult to say where the market is heading at the moment but the Defiance ETFs CIO remains optimistic – she is of the opinion that BTC will again start climbing peaks soon.
Investors are bullish on Bitcoin even though cryptocurrencies lost more than $200 billion in capitalization in just two days. Anthony Scaramucci describes the decline as the Black Friday of the crypto industry.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
|BITCOIN (BTCUSD) ₿||$36,414.64||-1.13%|
|ETHEREUM (ETHUSD) Ξ||$2,436.07||-1.12%|
|IMM. US (REIT)||$2,652.50||-1.53%|
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