[ad_1]
Mark Yusko, CEO and founder of Morgan Creek Capital, says the Bitcoin (BTC) bull market is just beginning.
In an interview on the YouTube channel “Wolf of All Street”, Yusko said that Bitcoin could reach a six-digit price by the middle of next year, a figure that would double the fair value of BTC. It says that it will be.
According to Yusko, the fair value of Bitcoin is estimated based on network effects and the number of BTC users and miners.
Yusko says.
“There is a possibility.” [Bitcoin’s] The fair value would only be $75,000 or $80,000. [this bull cycle]. Let’s say $75,000.
In other words, investors have been buying up to fair value all along. Now we have new people, we have traders, and we have speculators because hedgers are selling – gamblers have not yet appeared.
Once they show up and the leverage kicks in, the fair value shoots up to over $75,000. Historically it would be 2.3 times…
I don’t think I’ll go 2 or 3 times. [this cycle] Because I think it has less influence. I think it’s twice the fair value, or $150,000.
Therefore, a new all-time high will occur sometime between Thanksgiving of this year and June of next year. ”
However, the hedge fund veteran says Bitcoin and other crypto assets are likely to undergo a severe correction between now and BTC’s new all-time high.
“We haven’t even gotten to the crypto sell-off. It won’t happen until June. The halving hasn’t come yet, but there’s another one: SpaceX’s planned for late March before this year’s tax season. Let’s call it an explosion. Another wave of selling is coming.”
At the time of writing, Bitcoin is trading at $52,018.
Never miss a beat – Subscribe to get email alerts delivered straight to your inbox
Check price action
follow me twitterFacebook and Telegram
Surf the Daily Hoddle Mix
 
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: DALLE3
[ad_2]
Source link
