"Hopefully BTC will succeed in rising to its highest level of $68,996."
Former White House official and founder of investment company Skybridge Capital, Anthony Scaramucci believes that the cryptocurrency market will recover after the Federal Reserve (Fed) of the United States (US) stops raising interest rates.
Scaramucci believes that the price of digital assets can jump high if the Fed puts the inflation rate at 4% to 5%.
This is because, the Consumer Price Index (CPI) report in December saw US inflation in December rise 6.5%, falling from the 40-year high of 9.1% recorded in June.
Scaramucci said his company intends to buy a number of other digital assets if BTC price movements begin to see an uptick.
It is worth noting that Scaramucci is one of the staunch supporters of BTC who is very confident in the digital asset even though the crypto market has previously experienced a continuous drastic fall.
It is also understood that he encouraged most individuals to further increase their investment in BTC, provided that it does not exceed 5% of their total savings.
Scaramucci's encouragement is intended to give investors the opportunity to enjoy a good profit and at the same time not experience significant losses in the event of a price decline.
