Scaramucci Sees Market in Bear Phase, Urges Investors to Build Bitcoin Positions

Anthony Scaramucci, a well-known crypto promoter, has recently shared his thoughts on the current market conditions. He believes that the market is indeed in a bear phase and emphasized that it's not just about whether the downturn exists but also its duration.

In a recent post, Scaramucci pointed out that when pessimism becomes the loudest sound, investors are often positioned too lightly for a turn. He used Bitcoin as an example to illustrate this point, stating that if the move were mainly about anxiety over weakening purchasing power, it should be increasing in value instead of experiencing a downturn.

Scaramucci also drew on his experience having been through nine bear markets and has watched sentiment overshoot fundamentals. He suggested that downturns don't usually stop because fear disappears but because participants get worn out.