This is why the crypto market is recovering quickly, says hedge fund manager

The CEO of the hedge fund SkyBridge Capital, Anthony Scaramucci, recently interview with CNBC know why he is convinced that the crypto market will recover in no time. In any case, he says the near future looks very good.

Crypto market is recovering cautiously

In the last few weeks we have finally seen the prices of most cryptocurrencies rise nicely again. Scaramucci says he won’t be surprised if this trend continues. A number of specific developments, according to Scaramucci, will ensure that the crypto market as a whole is catapulted upwards again.

It is one of those things bitcoin (BTC) Lightning Network. This is a scaling solution on the Bitcoin network that allows transactions to be done a lot more efficiently. That way, paying with bitcoin actually becomes worthwhile. This Lightning Network is becoming more and more popular and according to Scaramucci this could benefit the entire crypto market.

He also mentions the big news that asset manager BlackRock de crypto industry has entered. BlackRock is the largest asset manager in the world with over $10 trillion in assets under management. BlackRock entered into a partnership with US crypto exchange Coinbase and also announced that it would launch a private fund for clients.

Finally, CEO Larry Fink sees institutional demand for digital assets. Otherwise, he wouldn’t be setting up those products, and he wouldn’t be partnering with Coinbase. I just want to remind people that there are only 21 million bitcoins, and you have a supply shock gets with very little supply.”

Ethereum merge

Another key factor in his prediction that the crypto market will recover quickly is the Ethereum (ETH) merge. This one big update will ensure that the Ethereum network is proof of stake switches and is one of the most anticipated updates in the history of the crypto industry.

“A lot of traders probably buy that rumor; they will probably sell on the news of that merge. I would warn people not to do that; these are great long-term investments,”

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