Crypto

Anthony Scaramucci Reveals He Bought Crypto During Crash, Suggests Being Disciplined

Many crypto investors have sold their assets due to the current market volatility. However, the effects of the crash are still reverberating across all crypto exchanges and businesses.

Some lost liquidity and were unable to sustain user demands, while others reduced their staffing capacity. Some investors jumped at the chance to add to their crypto portfolio amidst 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 rushed to sell to avoid losing it all, this company was busy stockpiling for the future.

Related Reading | XRP consolidates, is it going to pull back now?

According to Scaramucci, investors should be more disciplined during the havoc instead of panicking. He noted that if Amazon could survive its winter 20 years ago, the top crypto contenders would also survive this winter.

Maintaining discipline is the key in Crypto

The market reports are not looking good at all. The data shows that June 14 was the worst of days, as most cryptocurrencies dropped terribly. Right now, the bloodbath continues to deepen, with even number one crypto BTC falling lower than its records in Q4 2020. Ethereum (ETH) is also not doing well as it has plunged lower than its ATH of 2018

These incidents create a lot of fear and panic in the industry. But for Scaramucci, staying disciplined was the best option in the midst of chaos. He disclosed this position during an interview.

Scaramucci has always been a strong supporter of bitcoin. Right now, even when the signs are not positive, he believes that major crypto projects like BTC will bounce back like Amazon Stock after the storm. According to Scaramucci, Bitcoin has recently dominated the entire crypto market at higher levels. So, there is hope that he will recover.

Anthony Scaramucci Reveals Bought Crypto During Crash, Suggests Staying Disciplined
The crypto market shows signs of recovery | Source: Crypto Total Market Cap at TradingView.com

As for the reasons for the continuation of the downward trend, Scaramucci blames the actions taken by both Celsius and Terra during the price drop. To avoid things like that, the financier advises investors to avoid leverage but stay long.

Related Reading | Bitcoin in the midst of a relentless sell-off; Are you 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 should be properly sized when investing.

Does discipline imply more investment?

During the interview, Scaramucci was asked about his reasons for buying more BTC and ETH. Was moving part of the discipline he recommends? To answer that, the financier said that stacking is part of the discipline.

He believes that after the storm has passed, many people wish they had bought into the dip instead of playing too safe.

Featured image from pexels, chart from TradingView.com

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