CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$21,519.00
  • ethereum
    ETH$1,238.20
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Crypto Fund
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Anthony Scaramucci on the Recent Bitcoin Price Decline: Take a Chill Pill, Stay Long

    Anthony Scaramucci on the Recent Bitcoin Price Decline: Take a Chill Pill, Stay Long

    Author: Dimitar Dzhondzhorov

    Last Updated Jan 26, 2022 @ 15:17

    The ongoing crypto slump is not an issue for Scaramucci, who opined that those staying for the long-term will be “very well-served” in the future.

    The Founder of SkyBridge Capital – Anthony Scaramucci – advised investors to cool off on their concerns regarding the most recent plunge in the cryptocurrency market. He believes bitcoin, as well as other digital assets, are the right investment tools for the long-term, and people should not abandon them because of their current price dips.

    ‘Stay Long’

    The last several days were not pleasant for the cryptocurrency industry, as many assets lost a significant chunk of their USD value. Bitcoin, for example, dropped to below $33,000, losing over $10,000 in less than a week (its lowest level since July 2021).

    By the looks of it, the shaky condition of the digital asset market is not a concern to Anthony Scaramucci. In a recent interview for CNBC, the 58-year-old American said such price fluctuations should be considered a part of the strategy of long-term investors.

    “Everyone is a long-term investor until you have short-term losses, and then you start freaking out.”

    Unlike many analysts who opined that the price plunge marks the beginning of a “crypto winter,” Scaramucci reaffirmed his optimistic viewpoint on the industry. He even recommended that investors should “take a chill pill” and not sell their positions:

    “Take a chill pill, stay long bitcoin, other cryptocurrencies like Algorand and Ethereum, and I think you’re going to be very well-served long-term in those investments.”

    This is not the first time Scaramucci has been bullish during bearish times. At the end of November 2021, fears around the newly detected strain of COVID-19 – Omicron – caused panic in all global financial markets. As a result, the prices of most digital assets sank significantly. However, SkyBridge’s exec described the event as a “Black Friday,” hinting it was the perfect time for investors to increase their crypto exposure.

    ADVERTISEMENT
    scaramucci
    Anthony Scaramucci. Source: CNBC

    Don’t Invest Everything in BTC

    Despite his positive stance towards the cryptocurrency space, Scaramucci warned investors to appropriately scale their BTC investments. To him, the allocation in it should be relatively small:

    “I don’t want my clients to miss this. I’m telling them to size it appropriately – that’s a 1% of 3% allocation, 1% to 4% at cost. You can let it run, of course. But size it appropriately, then recognize that this is going to be part of our future.”

    In September 2021, he came up with similar advice recommending the public to invest not more than 5% of their total savings in bitcoin. Thus, in case of a price expansion, they would still enjoy solid profits. On the other hand, if bitcoin’s value starts declining, the loss would be somewhat insignificant.

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

    You Might Also Like:

    • BitcoinRed
      Bitcoin Plunges Below $43K As Wall Street Tumbles
    • Over $700 Million Liquidated in a Day as Bitcoin Price Dipped Below $63K
    • FederalReserve
      Bitcoin Price Shaky on News that Fed is Winding Back Inflation
    Tags: Bitcoin HODL
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Dimitar Dzhondzhorov
    More posts by this author

    Dimitar got interested in cryptocurrencies back in 2018 amid the prolonged bear market. His biggest passion in the field is Bitcoin and he was fascinated with its journey. With a flair for producing high-quality content, he started covering the cryptocurrency space in late 2018. His hobby is football.

  • bitcoin
    BTC$21,519.00
  • ethereum
    ETH$1,238.20
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    Over 33% of NFT Volume is Wash Trading: bitsCrunch CEO Interview

    Over 33% of NFT Volume is Wash Trading: bitsCrunch CEO Interview

    What’s Going on With Celsius Network and Why Is It a Huge Risk for Crypto (Opinion)

    What’s Going on With Celsius Network and Why Is It a Huge Risk for Crypto (Opinion)

    Institutions Are Definitely Here: ConsenSys’ Harriet Browning (Interview)

    Institutions Are Definitely Here: ConsenSys’ Harriet Browning (Interview)

    Binance Visa Card Guide: Read Before You Order

    Binance Visa Card Guide: Read Before You Order

    Bitstamp CEO JB Graftieaux: We Are Still Early (Interview)

    Bitstamp CEO JB Graftieaux: We Are Still Early (Interview)

    Okay Bears NFT Collection: The Complete Guide

    Okay Bears NFT Collection: The Complete Guide

    Our Ambition is to Become the Amazon of Crypto: Interview with Coinbase’s Guillaume Chatain

    Our Ambition is to Become the Amazon of Crypto: Interview with Coinbase’s Guillaume Chatain

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!