Mark Yusko, founder and CEO of Morgan Creek Capital, recently made bold predictions about the future price of Bitcoin on CNBC’s “Fast Money” program. He believes that Bitcoin will surpass $150,000 this year.
With the recent rise of Bitcoin to the $70,000 range, Yusko suggests that investors should allocate at least 1% to 3% of their assets to Bitcoin. He views Bitcoin as the “king” and dominant token in the market, and a better asset form than gold.
Yusko further predicts that Bitcoin has the potential to achieve tenfold growth in the next decade, considering the “law of large numbers” and analyzing Bitcoin’s development based on historical data. He considers the Bitcoin spot ETF, launched in January this year, as one of the significant factors driving the current cryptocurrency rally.
In past Bitcoin halving cycles, there has often been a significant pullback followed by a surge. With less than 20 days until the next Bitcoin halving, Yusko expects the event to result in a supply shortage, further bolstering support for Bitcoin’s price.
After the halving event, Yusko points out that Bitcoin’s market capitalization and price will enter an accelerated upward trend. This trend will not only last for some time but also gradually accelerate over time. However, Yusko also predicts the timing of the market reaching its peak, stating:
Related reports:
– The Ultimate Guide to Bitcoin Halving in 2024: When? What should I pay attention to? Impact on price and miners.
– 34 days to go! Why is this Bitcoin halving crucial for the future of DeFi?
– JPMorgan: Bitcoin may drop to $42,000 after halving, current BTC still in overbought condition, bearish trend not over yet.