Mark Yusko, a cryptocurrency hedge fund veteran, predicts Bitcoin will rise in “spring.” His timeline follows.
Mark Yusko, a veteran of the cryptocurrency hedge fund industry, forecasts that the Bitcoin price will begin to go upward in the “spring.” Here is his timeline.
Mark Yusko, the managing partner of Morgan Creek Digital, is making a prediction on when he believes the Bitcoin (BTC) market will revive into a new bull market.
According to Yusko, who was speaking in an interview with Stansberry Research, the current market structure of Bitcoin is symptomatic of a bottoming process. This is because BTC has printed multiple higher lows and higher highs in recent trading.
The CEO of the cryptocurrency hedge fund said that he subscribes to the conventional school of thinking, which holds that Bitcoin is subject to speculative cycles.
According to Yusko, Bitcoin is most likely in the “spring” part of the cycle, which indicates that winter has ended and that BTC is forming a base for the next bull run in “summer.” He predicts that this next bull run will occur slightly before the next halving, which will take place in early to middle 2024.