Bitcoin’s Price Crosses $65K, But Anthony Scaramucci Says $100K Catalyst Could Be 20 Months Away

Bitcoin’s (BTC) price crossed $65,000 on Tuesday morning, while SkyBridge Capital founder Anthony Scaramucci said he still expects the apex cryptocurrency to hit $100,000, but the next catalyst might be 20 months away.

In an interview with CNBC, the former White House Communications Director tied his bullish long-term view directly to that halving cycle. "As the halving cycle comes in again, and we cut the supply of coins again, it will tighten price, and I think you'll see the thing move back up over 100,000," he said.

Scaramucci added that Bitcoin is in "a clear bear market," but noted that the asset has only fallen about 55% from its highs, compared to 75% to 80% drawdowns in prior cycles over his 37 years of investing experience. “So weirdly, you could take a position where that's actually a good sign that there's a lot of net buyers going into the next bull phase of Bitcoin,” he said.

Bitcoin Crosses $65K For The First Time In Over A Week

Bitcoin’s price rose 1.7% in the last 24 hours to cross $65,000 in intra-day trade, marking an over one-week high, before dipping to around $64,700. This is not the first time the apex cryptocurrency has crossed $65,000 only to face heavy resistance and fall back lower.