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Scaramucci sees bitcoin at $50,000 to $100,000 in 2-3 years as market hopes for bull run



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After a tumultuous 2022, crypto investors are trying to figure out when the next bitcoin bull run could be.Last week, at a crypto conference in St. Moritz, Switzerland, CNBC spoke to industry insiders who painted a picture of 2023 as year of caution. Bitcoin is expected to trade within a range, be sensitive to the macroeconomic situation such as interest rate rises and continue to be volatile. A new bull run is unlikely in 2023.However, experts are looking to next year and beyond with optimism.In 2022, the entire cryptocurrency market lost about $1.4 trillion in value with the industry facing liquidity issues and bankruptcies topped off by the collapse of exchange FTX. Contagion spread across the industry.While bitcoin has gotten a small bump at the start of the year, in line with risk assets like stocks, experts say bitcoin is unlikely to retest its all-time high of just under $69,000 but it may have bottomed.”I think there’s a little bit more downside, but I don’t think there’s going to be a lot,” Bill Tai, a venture capitalist and crypto veteran told CNBC last week.”There’s a chance that [bitcoin] kind of has bottomed here,” adding that it could fall as low as $12,000 before jumping back up.Meltem Demirors, chief strategy officer at CoinShares, said bitcoin is likely to be rangebound trading at the lower end between $15,000 and $20,000 and on the upper end between $25,0 …

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