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Top market personality Anthony Scaramucci has shared his thoughts on the growing optimism surrounding Bitcoin (BTC) as of late. Taking On Platform
Five catalysts
According to the billionaire investor, the optimism driving Bitcoin is based on the prospects for spot exchange-traded fund (ETF) products. Companies like BlackRock are currently lining up to list the first Bitcoin which, at the time of writing, is under review by the United States Securities and Exchange Commission (SEC).
Other major investment management firms are also on track to obtain this approval in the coming weeks and months. This product has been tagged as the gateway for institutional investors to make their way into cryptocurrencies and has the potential to drive prices higher.
In addition to this, Scaramucci highlighted the upcoming halving event as a possible trigger for BTC price to chart a new course of growth. In general, halving will help reduce the rewards paid to miners and, by default, deflate the supply over time. This, in turn, will put upward pressure on the price of the asset.
The easing of monetary policies by the US Federal Reserve and other central banks is also an important factor, in Scaramucci’s view. In addition to this, the growing desire to invest in a hard asset and the inclusion of Bitcoin in model portfolios have combined to make Bitcoin attractive to investors across the board.
Bullish Bitcoin Predictions
As things stand, Bitcoin has received a number of highly bullish predictions from leading market analysts as of late. From BitMEX co-founder Arthur Hayes’ $750,000 prediction to Ark Invest’s Cathie Wood’s $1.5 million+ call, the coin remains a favorite among top analysts overall.
