Btc To Touch 170k Price Level

 Btc To Touch 170k Price Level

Bitcoin (Btc) To Touch $170k, According To Skybridge

Mr Anthony Scaramucci from SkyBrdige has come up with a very bullish target for Bitcoin (BTC). According to him, the cryptocurrency will touch a new all-time high of $170,000.

These comments come at a time when Bitcoin (BTC) is going through a bearish pullback after touching the $74K handle. It is also important to note that Bitcoin (BTC) has never even exceeded $100K in its lifetime, let alone go towards the target of $170K.

$10 Billion Inflows In Btc

Scaramucci also highlighted the fact that Bitcoin (BTC) has received close to $10 billion in inflows during Q1 of 2024. According to him, the pace and amount of inflows have already crossed the Gold ETF growth by a big margin.

He commented that the ETFs have also played a big role in the revival of Bitcoin (BTC). After all, it is only natural to see billions of dollars move into Bitcoin as there's still enough demand on Wall Street.

Scaramucci believes that many other factors also support a bullish Bitcoin (BTC), such as the halving event and upcoming ETF approvals. According to Scaramucci, both of these events are yet to be fully priced, which suggests more upsides.

Another factor which supports the bullish forecast of $170K is the fact that only 6% of the global population uses Bitcoin. If we compare that with Web 1 from 1998, it becomes clear that the Bitcoin (BTC) saga has only started.

Scaramucci even went as far as to declare Bitcoin a very good hedge and insurance against currency devaluation and inflation. However, he doesn't believe that Bitcoin will be adopted as a global standard, as is the case with Gold.

However, when it comes to market valuation, he believes that Bitcoin has the potential to reach 50% of the gold market valuation in the near future.

It is important to note that while gold prices continue to trade in a familiar range, the price of 1 BTC has already reached record highs!

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