, the founder of Skybridge and a crypto investor, predicts that the Federal Reserve will pause its efforts to increase interest rates before inflation reaches its 2% target, which would cause a surge in risky assets such as cryptocurrencies.
"I do believe that the Fed declares victory at 4% to 5% inflation," Scaramucci, founder of SkyBridge Capital, stated in an interview."If I'’m right, there will be a resurgence in the market. There'll be a lot of short covering in crypto, and there'll be a rebirth of risk assets.", Scaramucci called 2023 a"recovery year" for Bitcoin and predicts the biggest cryptocurrency by market capitalization may trade at $50,000 to $100,000 in two to three years.
Due to bankruptcies, liquidity issues and the demise of the FTX exchange, the entire cryptocurrency market lost almost $1.4 trillion in value in 2022.
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