$150,000 Bitcoin is coming, hedge fund veteran Mark Yusko predicts – here's the schedule
Mark Yusko, CEO and founder of Morgan Creek Capital, says the Bitcoin (BTC) bull market has just begun.
In an interview on the YouTube channel “The Wolf of All Streets,” Yusko says that Bitcoin could reach a six-figure price by the middle of next year, a value that he believes will double the fair value of BTC.
According to Yusko, Bitcoin's fair value is estimated based on its network effects, or the number of BTC users and miners.
Says Yusko,
“It is possible that [Bitcoin’s] The fair value is only $75,000 or $80,000 [this bull cycle]. Let's just say $75,000.
So investors have been buying up to fair value all along. Now we have new people, we have traders, we have speculators because the hedgers are selling – the players haven't even shown up yet.
Once they show up and leverage kicks in, we exceed fair value, which is just over $75,000. In history we go to 2.3 times…
I don't think we'll go 2.3 times [this cycle] because I think the leverage is lower. I think we'll go to twice the fair value, which is $150,000.
So sometime between Thanksgiving of this year and June of the following year we will see the new all-time high.”
However, the hedge fund veteran says Bitcoin and other crypto assets are likely to undergo a sharp correction until a new all-time high for BTC.
“We haven’t even reached crypto collapse yet. That doesn't happen until June. The halving is still to come and we have another let's call it SpaceX-like explosion that was planned after the Ides of March before this year's tax season. There’s another wave of sales coming.”
Bitcoin is trading at $52,018 at the time of writing.
Don't miss a thing – Subscribe to receive email alerts straight to your inbox
Check price action
Follow us on Twitter, Facebook and Telegram
Surf the Daily Hodl Mix
Check out the latest headlines
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct their due diligence before making any risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your transfers and transactions are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: DALLE3
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.