Bitcoin's Bright Future: Hedge Fund Veteran Mark Yusko Foresees $150,000 Peak
Portfolio Pulse from Bibhu Pattnaik
Mark Yusko, CEO of Morgan Creek Capital, predicts Bitcoin could reach $150,000 by mid-next year, citing network effects and increasing user and miner numbers. He suggests Bitcoin's fair value is around $75,000 to $80,000 this cycle but expects a severe correction before hitting new highs. Yusko anticipates a 'crypto fall' and a significant selling wave influenced by the Bitcoin halving and seasonal selling patterns, with Bitcoin currently trading at $51,676.63.
February 18, 2024 | 1:50 pm
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Mark Yusko predicts Bitcoin could reach $150,000 by mid-next year, but warns of a severe correction before achieving new highs. Currently, Bitcoin trades at $51,676.63.
Yusko's prediction is based on the network effects and increasing user and miner numbers, suggesting a strong bullish outlook for Bitcoin. However, the anticipated severe correction before reaching new highs introduces volatility, making the short-term impact positive but with caution due to potential corrections.
CONFIDENCE 80
IMPORTANCE 95
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