Alex Dovnya
Hedge fund manager Mark Yusko thinks the price of the largest cryptocurrency could reach $150,000 in 2024
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The price of Bitcoin (BTC), the largest cryptocurrency, could fall, according to American investor and hedge fund manager Mark Yusko. potentially This year, it jumped to $150,000.
At the time of writing, the flagship cryptocurrency is hovering just above the $70,000 level.
In a recent interview with CNBC, the hedge fund manager touted cryptocurrencies as a great form of gold while explaining his bullish case.
Yusko believes that the price of cryptocurrencies could eventually soar well above $150,000. In fact, he predicts that the flagship coin could soar to $700,000 by the end of the next decade.
Investors’ bullish case for Bitcoin appears to be largely based on the halving event, which is expected to occur next month.
Despite the fact that the beacon coin has already seen a massive rally following the approval of several spot exchange-traded funds earlier this year, Yusko believes an even bigger rally will occur after the halving event. .
He points to the fact that based on historical data, Bitcoin prices tend to peak several months after an event, meaning we can expect some fireworks by the end of 2024.
Yusko has been a long-time Bitcoin bull. For example, he predicted that the price of the largest cryptocurrency could reach $400,000 all the way back. in 2019.
He said that if the Bitcoin price reaches $250,000 in 2021, it will have a monetary value “on par with gold.”
In early March of this year, the largest cryptocurrency reached a valuation of $1.4 trillion, surpassing silver in market capitalization. However, there is still a long way to go before catching up with the yellow metal.
This virtual currency has not yet surpassed major companies such as Alphabet and Apple in terms of market capitalization.
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Alex Dovnya
