Anthony Scaramucci Reveals Buying Crypto During Crash, Suggests Staying Disciplined
June 17 2022 - 4:00AM
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Many crypto investors have sold their assets due to the ongoing
market volatility. However, the effects of the crash are still
reverberating across all the exchanges and crypto firms. Some lost
liquidity and couldn’t sustain users’ demands, while others
downsized their staff capacity. Some investors seized the chance to
add to their crypto portfolio amid the chaos. An example of such a
future-oriented investor is Anthony Scaramucci. Scaramucci has
revealed that SkyBridge Capital, his firm increased its ETH and BTC
volume during the crash. So when others scrambled to sell off to
avoid losing all, this firm was busy stacking up for the future.
Related Reading | XRP Consolidates, Is It Going To Retrace
Now? According to Scaramucci, investors should discipline
themselves more during the havoc instead of panicking. He pointed
out that if Amazon could survive its winter 20 years ago, crypto
top contenders would overcome this winter too. Staying Discipline
Is The Key In Crypto The market reports are not looking good at
all. Data shows that June 14 was the worst of the days as most
cryptos declined terribly. Right now, the bloodbath keeps
deepening, and even the number one crypto BTC fell lower than its
records in Q4 of 2020. Ethereum (ETH) is also not doing good as it
has slumped lower than its 2018 ATH These incidents create a lot of
fear and panic in the industry. But for Scaramucci, staying
disciplined was the best option amid the chaos. He made this stance
known during an interview. Scaramucci has always been a strong
supporter of bitcoin. Right now, even when the signs are not
positive, he believes that crypto top projects like BTC will
rebound like Amazon Stock after the storm. According to Scaramucci,
Bitcoin has recently dominated the entire crypto market to higher
levels. So, there’s hope it will rebound. Regarding the reasons for
the continuing downward trend, Scaramucci blames it on the actions
taken by both Celsius and Terra during the fall in price. To avoid
things like that, the financier advises investors to avoid leverage
but stay long. Related Reading | Bitcoin Amidst Relentless
Sell-Off; Is It Targeting $13,000 Now? Scaramucci initially warned
investors to be careful when scaling their Bitcoin investments.
But, according to his strategy, they should never forget that
crypto is here to stay and, as such, must be allocated the right
size when investing. Does Discipline Involve More Investment?
During the interview, Scaramucci was asked his reasons for buying
more BTC and ETH. Was the move a part of the discipline he
recommends? To answer that, the financier said that stacking up is
a part of the discipline. He believes that after the storm has
passed, many people would wish they had bought into the dip instead
of playing too safe. Featured image from pexels, chart from
TradingView.com
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