Mark Yusko says crypto rally is just getting started and predicts “speculative boom” to come – here is the timeline

Mark Yusko, Founder and CIO of Morgan Creek Capital says Bitcoin (BTC) and the crypto markets have now entered the bull market.

In a new CNBC interview, Yusko says Bitcoin and the crypto markets are in the early stages of a new bull market that could last into next year when BTC goes through its next halving event.

“I think the rally is just beginning. We have just entered the so-called seasonal period of crypto summer. There’s this four-year cycle around what’s called the halving, where the block rewards for the Bitcoin blockchain change every four years. This leads to an accumulation phase. This event will take place next April.

Then we usually see a speculative upleg after the halving and then an overreaction to the downside, the so-called crypto winter.”

Yusko also reiterates what he believes is Bitcoin’s most important use case. Bitcoin is poised to replace gold as the base currency layer, according to Morgan Creek Capital chief executive.

“Bitcoin is digital gold. It replaces what gold did for 5,000 years. There is only one money in the world: that is gold.

Money is an asset that exists without liability. Gold has played this role – it forms the base layer of the currency. Above money is a debt-backed currency created by governments to facilitate trade: gold

And for 5,000 years, gold has been doing a good job. But gold is not wearable. It is not divisible. Bitcoin, a permanent, immutable ledger, will play that role as the basis for new money in the future.

And on top of that, we will build the future of finance. The things beyond that like Ethereum or some other applications of blockchain technology could play a part. I see Ethereum more as a replacement for fiat currencies.”

At the time of writing, Bitcoin is trading at $30,787.

I

Don’t miss a thing – Subscribe to receive email alerts straight to your inbox

Check the price action

Follow us on Twitter, Facebook and Telegram

Surf the Daily Hodl Mix

Check out the latest headlines
&nbsp

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 you transfer and trade 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.

Image generated: Midjourney

Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers