Anthony Scaramucci (앤서니 스카라무치), the founder of SkyBridge Capital and a former White House communications director, said bitcoin could rise above $100,000 again, but it could take up to about 18 months for the trigger to be in place.

On Aug. 19, Cryptopolitan reported that the SkyBridge Capital founder appeared on CNBC’s “Squawk Box” and described the current market as “clearly a bitcoin bear market.”

Scaramucci said bitcoin has stayed for about 9 weeks in the tightest volatility range of the past 5 years. He added that since the Iran war began in February, prices have largely been flat.

He cited three reasons for the sideways move. They are miners shifting computing resources to artificial intelligence, money moving into AI-related stocks and bitcoin’s four-year market cycle.

He said the size of the decline is smaller than in past bear markets. The current pullback is about 55 percent, short of the 75 to 80 percent declines seen in previous cycles. He said he viewed this as a sign that net buying is coming in before the next bull market.

Scaramucci cited the halving as a key catalyst for the next bull market. With about 18 to 19 months until the next halving, he said bitcoin could keep a gradual trend for a while before rising back above $100,000.

Standard Chartered also said bitcoin could regain $100,000, but at a faster pace. Geoffrey Kendrick, head of digital assets research at Standard Chartered, said in a June report that bitcoin could rise above $100,000 by the end of the year.