Founder and CEO of Morgan Creek Capital Management; Mark Yusko predicted a significant price increase for Bitcoin during this period. 2024 bull cycle.emphasize Bitcoin’s immense potentiala hedge fund manager hailed it as the unparalleled “king” among digital assets.
Set a target price of $150,000 on BTC
Yusko appeared in a recent interview with CNBC TV on March 27th. shared a bold prediction We predict that the value of Bitcoin will rise and reach a significant increase to $150,000 in 2024.
When asked why he thought the price of cryptocurrencies would rise so astronomically, Yusko cited the upcoming Bitcoin halving and its effects. Spot Bitcoin Exchange Traded Fund (ETF), about the price of BTC. The hedge fund manager revealed that historically, once the BTC halving is completed, the fair value of the cryptocurrency increases.
He explained: The upcoming 2024 Bitcoin halving will take place in April.BTC miners will face the challenge of potentially higher transaction fees, which could push the price up to $75,000.
After Bitcoin Halving Event, the cryptocurrency is expected to soar to $150,000, double its fair value.Hedge fund managers cited the following factors: Growing interest from investors The trigger for this price increase is fear of missing out (FOMO).
Yusko also said that after the Bitcoin halving, there will be a surge in demand for spot Bitcoin ETFs. The supply of new coins will decrease From 900BTC to 450BTC per day. “If there is more demand than supply, prices should go up,” the hedge fund manager said.
Investment management CEO expresses strong belief in BTC value As one of the world's leading digital assets. He predicts that cryptocurrencies will “easily” soar tenfold over the next decade.
“Bitcoin is the king, the dominant token. It's a better form of gold or digital assets. And I believe it will be the best,” Yusko said.
Bitcoin price expected to hit new high by year-end
During the interview, Yusko predicted: Bitcoin The highest price could be reached by the end of 2024. The hedge fund manager revealed that BTC will decline sometime in December, historically nine months after a Bitcoin halving event. rise rapidly to peak value before entering the next bear market.
During this time, the CEO of Investment Management stated that small crypto projects could experience significant increases beyond the gains seen on BTC.he revealed some things altcoin Investment assets that his company, Morgan Creek Capital Management, typically purchases and HODLs include: Solana,avalanche, Coinbase.
BTC bulls and bears vie for control | Source: BTCUSD on Tradingview.com
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