{"id":11350,"date":"2023-04-07T05:18:19","date_gmt":"2023-04-07T05:18:19","guid":{"rendered":"https:\/\/www.cryptoheretostay.com\/?p=11350"},"modified":"2023-04-07T05:18:20","modified_gmt":"2023-04-07T05:18:20","slug":"were-through-the-bear-market-as-bitcoin-notches-up-70-ytd","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=11350","title":{"rendered":"\u2018We\u2019re through the bear market\u2019 as Bitcoin notches up 70% YTD"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Following Bitcoin\u2019s (BTC) stellar start to 2023, SkyBridge Capital founder Anthony Scaramucci believes \u201cwe\u2019re through the bear market\u201d and expressed confidence in his firm\u2019s crypto investments.<\/p>\n<p>However, \u201cthe Mooch\u201d qualified the statement by adding, \u201cThat is a guess. We don&#8217;t know.\u201d<\/p>\n<p>In an April 6 interview with Yahoo Finance, Scaramucci noted that Bitcoin has consistently outperformed every other asset class over longer periods of time, saying:<\/p>\n<p>\u201cBut any time that you\u2019ve held Bitcoin in a four-year rolling interval, so you pick the day, hold it for four years, you\u2019ve outperformed every other asset class.\u201d<\/p>\n<p>Scaramacci also expressed his bullish outlook for the leading crypto by market cap ahead of the next halving cycle, which is set to take place in early March 2024, according to NiceHash.<\/p>\n<p><em>Halving countdown according to NiceHash.<\/em><\/p>\n<p>Bitcoin has historically operated on a four-year cycle, with the start of an upward trend occurring soon after each halving cycle. <\/p>\n<p>The theory behind the price cycle is that block rewards being halved makes the BTC in existence more scarce and therefore more valuable.<\/p>\n<p>Bitcoin has recorded gains of nearly 70% in 2023, according to Cointelegraph Pro, increasing from $16,521 to $28,060 compared to the S&amp;P 500 index, which has risen by just over 7% during the same time period.<\/p>\n<p>Bitcoin\u2019s enviable start to 2023 also comes amid what can only be described as poor market and regulatory conditions that may yet weigh down the price.<\/p>\n<p>Crypto institutions based in the United States are struggling to find banking partners and liquidity following the collapse of crypto-friendly banks such as Silvergate, Silicon Valley and Signature Bank, and there are fears that the U.S. is putting into place a policy to prevent banks from interacting with crypto. <\/p>\n<p><strong><em>Related:<\/em> <\/strong><strong><em>Bitcoin \u2018faces headwinds\u2019 as US money supply drops most since 1950s<\/em><\/strong><\/p>\n<p>Additionally, the two largest crypto exchanges in the world according to CoinMarketCap \u2014 Binance and Coinbase \u2014 have both been subject to recent scrutiny from regulators.<\/p>\n<p>Coinbase received a Wells notice on March 22 notifying of possible enforcement action from the Securities and Exchange Commission, while Binance has been sued by the Commodity Futures Trading Commission for allegedly violating trading and derivatives rules <\/p>\n<p>Yet, despite these events, crypto sentiment remains positive.<\/p>\n<p>The Crypto Fear &amp; Greed Index, an indicator used to measure crypto sentiment, is currently sitting in greed territory and is pushing for highs that haven\u2019t been seen since November 2021 \u2014 Bitcoin\u2019s all-time high.<\/p>\n<p><em>Crypto Fear &amp; Greed Index (screenshot). Source: <\/em><em>Alternative.me<\/em><\/p>\n<p><strong><em>Asia Express: Zhu Su\u2019s exchange did $13.64 in volume akshually, Huobi in crisis<\/em><\/strong><\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/scaramucci-we-re-through-the-bear-market-as-bitcoin-notches-up-70-ytd\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following Bitcoin\u2019s (BTC) stellar start to 2023, SkyBridge Capital founder Anthony Scaramucci believes \u201cwe\u2019re through the bear market\u201d and expressed confidence in his firm\u2019s crypto investments. However, \u201cthe Mooch\u201d qualified the statement by adding, \u201cThat is a guess. We don&#8217;t know.\u201d In an April 6 interview with Yahoo Finance, Scaramucci noted that Bitcoin has consistently [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-11350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11350"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11350\/revisions"}],"predecessor-version":[{"id":11352,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11350\/revisions\/11352"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/11351"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}