Bitcoin Bull Market Just Beginning, Says Hedge Fund Veteran Mark Yusko
Mark Yusko, CEO and founder of Morgan Creek Capital, believes that the Bitcoin (BTC) bull market is far from over. During an interview on The Wolf of All Streets YouTube channel, Yusko predicts that Bitcoin could reach a six-figure price by mid-next year, which would be double its fair value.
Estimating Bitcoin’s Fair Value
Yusko determines the fair value of Bitcoin based on its network effects, including the number of users and miners. He suggests that while the fair value may only reach $75,000 or $80,000 during this bull cycle, once new investors, traders, and speculators enter the market and leverage is applied, Bitcoin could surpass this level.
Yusko expects Bitcoin to go 2x fair value, reaching $150,000 sometime between Thanksgiving 2024 and June 2025.
A Severe Correction and Future Selling Wave
Despite his bullish long-term outlook, Yusko anticipates a severe correction in the near future. He believes that crypto assets like Bitcoin will experience a “crypto fall” around June. Additionally, he mentions another planned selling wave before tax season this year.
As of now, Bitcoin is trading at $52,018.
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