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Cryptocurrency News Articles

Should Bitcoin Holders Stay Put Amidst Volatility?

Mar 23, 2024 at 08:05 pm

Anthony Scaramucci, founder of SkyBridge Capital, advises Bitcoin investors to refrain from selling during periods of high volatility. Despite concerns from clients regarding the asset's price fluctuations, Scaramucci believes that inaction is the optimal strategy. He suggests that investors adopt a "dead" approach, similar to deceased Charles Schwab clients who have historically outperformed living investors. Scaramucci projects Bitcoin's potential market cap to approach that of gold, emphasizing the significance of long-term holding and avoiding impulsive trades.

Should Bitcoin Holders Stay Put Amidst Volatility?

Should Bitcoin Investors Hold Fast Amid Volatility?

Wall Street veteran Anthony Scaramucci believes so. He advises clients to "act like you're dead" and refrain from selling amid Bitcoin's wild price swings. Scaramucci acknowledges that clients have been unsettled by the cryptocurrency's volatility, but he urges them to resist the urge to react.

Can Bitcoin's Market Cap Rival Gold's?

Scaramucci draws a parallel between deceased Charles Schwab clients and Bitcoin investors. He suggests that holding onto Bitcoin without making any moves could lead to greater returns than active trading. By emulating the dead, investors can avoid the emotional turmoil associated with market fluctuations.

Institutional Demand: A Catalyst for Bitcoin's Surge?

The Securities and Exchange Commission's approval of Bitcoin exchange-traded funds (ETFs) has fueled a surge in institutional demand. This has contributed to Bitcoin's impressive 44% year-to-date gain.

Halving Event: A Potential Price Driver?

Experts anticipate that the upcoming Bitcoin halving event, scheduled for April, could create a supply shock and drive prices higher. This event involves reducing the number of Bitcoins released into circulation, potentially increasing demand and boosting the value of existing coins.

ARK Invest's Optimistic Outlook

Cathie Wood, CEO of ARK Invest, one of the firms approved for a Bitcoin ETF, has raised her price target for the cryptocurrency to a staggering $3.8 million by 2030. She attributes this bullish outlook to recent developments and the growing institutional adoption of Bitcoin.

Conclusion

Anthony Scaramucci's advice to Bitcoin investors is to remain calm and avoid selling during periods of volatility. By emulating the "dead people at Charles Schwab," investors can potentially maximize their returns over the long term. The increasing institutional demand and the upcoming halving event further support the optimistic outlook for Bitcoin's future.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

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