How to Survive a Crypto Bloodbath

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Skybridge Capital founder Anthony Scaramucci shared his Bitcoin (BTC) outlook and advice on surviving the cryptocurrency market sell-off in an interview with CNBC.

“We are in a bloodbath. This is my eighth bear market. I expect to survive this one as well.” 

Scaramucci said he is encouraged by the fact that bitcoin is above 50% of the overall crypto market cap by now, which is another sign that there is a flight to quality there.

Celsius, a crypto lending platform, gave the word out that it has frozen withdrawals as cryptocurrency terra (LUNA) and stablecoin terraUSD (UST) imploded in early May.

The Skybridge executive proceeded to share some advice with investors to assist them in surviving the crypto bear market. He started by encouraging people to keep their long-term investment disciplines while staying unlevered. He described that “everybody has a long-term perspective until they have short-term losses … then they start to set their hair on fire and run around in a circle.”

Bear markets happen. He wanted to emphasize that investors should recognize that. He said:

“If you stay disciplined during those periods of time, you got yourself very wealthy, and I think that’s the message for investors.”

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