Skybridge CEO Lists Factors To Spur Crypto Market Recovery

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,251,163,742,899	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,251,163,742,899

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-720.63	-1.12%	63,764.01	63,764.01	63,764.02

Price Change

Price Change %

Current Price

Bid Price

Offer

-720.63

-1.12%

63,764.01

63,764.02

High Price	Low Price	Open Price	Prev. Close	52 Week Range
64,810.00	63,287.76	64,488.01	64,484.64	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

64,810.00

63,287.76

64,488.01

64,484.64

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	23:53:35	0.000046	63,763.18	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

23:53:35

0.000046

63,763.18

USD

Price x Volume	Volume	Base Symbol	Related Pairs
776,004,601.91	12,116.08	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

776,004,601.91

12,116.08

Skybridge CEO Lists Factors To Spur Crypto Market Recovery

15/08/2022 5:00pm

NEWSBTC

The crypto industry is gradually seeing a glimpse of light with promising improvement in the performance of digital assets. Based on the flowing uptrend, Anthony Scaramucci, the founder and managing partner of Skybridge Capital, expressed optimism about the crypto future. Furthermore, he pointed out the key players that would positively impact crypto markets in the future. Scaramucci advised that investors should keep up their confidence and focus as they look beyond the present atmosphere. There would be a change for greater market profitability due to a long-term overtake with price surges. The manager expressed his views during an interview with CNBC. He maintained that lots of new projects and innovations in the crypto space are making a difference. But, to him, it would be long before the increased commercial flows in the space would yield more rewards. Related Reading: Ethereum Sees Setback After Breaking $2k, But Price Likely to Maintain Upward Trajectory Further, Scaramucci pointed out some key factors that he believes are contributory to the recovery of the crypto market. First, he stated that the Ethereum blockchain is finally getting its long-awaited upgrade as the Merge takes place on September 15. As the world’s second-largest cryptocurrency, the upgrade from Ethereum would significantly impact its market price. With the Merge launch, the network would transit from a Proof-of-Work (PoW) consensus mechanism to a Proof-of-Stake (PoS). The outplay of events preceding the Merge is already creating positive results for the Ethereum network. Investments are increasing daily for Ether and its derivatives in the market. This comes with the positive sentiment from the Merge, which Scaramucci noted is spiking the demand for Ethereum and its products. Developments Likely To Brighten Crypto Market According to Scaramucci, more investors are buying the Ethereum Merge rumor. They might have to sell also due to news on the transitions. But, Scaramucci advised participants to desist from such motives while investing. To him, the assets are long-term investments that should go with higher profitability in the long run. Additionally, Scaramucci listed other positive indicators that would spike the crypto market in the future. This includes the Lightning Network, a layer two payment protocol built on the Bitcoin blockchain, with increasing improvement signs. Also, there’s the partnership between BlackRock and Coinbase and BlackRock’s launch of a spot Bitcoin private trust fund. Related Reading: Litecoin Breezes Past $64 Level As LTC Picks Up Speed In Scaramucci’s opinion, the CEO of BlackRock, Larry Fink, understands the high institutional demands for digital assets. This prompts his moves in making some collaborations, especially with Coinbase, and developing relevant products. Though prices still fluctuate, some cryptocurrencies are making progressive upward moves. For example, Bitcoin had about a 20% increase last month while Ether gained 62%. Also, while noting the impressive record of July on the inflation rate, Scaramucci anticipates a better float of the global economy. As a result, he expects the next 6 to 12 months to give strong output similar to the Q4 of 2019. Featured image from Pixabay, Charts from TradingView.com

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