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“Bitcoin Could Reach $100,000,” Specialist Defends - Executive Digest

“Bitcoin Could Reach $100,000,” Specialist Defends – Executive Digest

Bitcoin rose 7.05% in the past 24 hours to $4,261.54 (€36,245.02 on Friday’s exchange rate), overcoming the long-awaited growth barrier of $40,000. This growth follows the positive trend last week (9.22%), according to data from Coin Market Cap.

For Anthony Scaramucci, founder of Oscar Capital Management and SkyBridge Capital, this is a “clear assumption that this token will be trading at $100,000 by the end of the year,” an increase of about 190%.

“For the first time in the last 50 days, the world’s most quoted cryptocurrency is above its moving average, which is a clear sign that it will continue to rise,” says the expert.

“Bitcoin is going to be the big predator of cryptocurrency,” explained the CEO in an interview with CNBC, who for ten days was the communications director in the Trump administration.

In recent months, Bitcoin has suffered a decline of more than 50%, 36% in May alone, and the professional press has categorized this behavior as “the worst month for Bitcoin since 2011”. In April, the “queen” of cryptocurrency reached $65,000 (about €58,000).

Bitcoin’s “roller coaster” has not generated consensus among experts. On the other side of the discussion, Todd Morley, co-founder of Guggenheim Partners and a cryptocurrency and blockchain entrepreneur says, “Ethereum is far more useful than Bitcoin and may outperform this cryptocurrency in the long run.”

“Ethereum is more useful due to smart contracts,” Morley explained to Bloomberg TV,

“These Ethereum related technologies have grown 20-fold in the past six consecutive years, much faster than Moore’s Law.”

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Moore’s Law, written by engineer Gordon Moore in 1965, states that computing evolution occurs in a double fashion every two years, at the same speed as semiconductors.”

“In addition, in the past 12 months, the popularity of DeFi calls (decentralized finance), which uses the Ethereum network, has risen in popularity,” the executive added.

“When it comes to NFTs (non-fungible tokens), they have become yet another pioneer in blockchain technology for the Ethereum network,” concludes Morley.