Scaramucci: BTC in normal correction, bull market to resume in Q4

The market always moves contrary to investor expectations, and Bitcoin is currently in a normal correction phase, according to Anthony Scaramucci, founder of U.S. alternative investment firm SkyBridge Capital. He explained that the current downturn is a typical correction similar to past declines, Cointelegraph reported. Scaramucci noted that after bottoming out in December 2022 following the FTX collapse, the market rebounded from January of the following year, with the bull market restarting amid widespread indifference and cynicism. He added that while institutional investors and inflows from spot BTC ETFs have reduced volatility and somewhat weakened the four-year cycle, they have not completely changed its structure. Scaramucci stated that large-scale investors and early participants follow the four-year cycle as a belief, which creates a self-fulfilling prophecy. He predicted that BTC will see significant volatility through the fourth quarter of this year, after which a new bull market will begin and the uptrend will resume.