Mark Yusko, CEO and founder of Morgan Creek Capital, believes the bitcoin (BTC) bull market is just beginning.
In an #interview with YouTube channel The Wolf of All Streets, Yusko said #bitcoin could reach a six-figure price by the middle of next year, which would double the fair value of #BTC. According to Yusko, the fair value of bitcoin is estimated based on network effects, which is the number of BTC users and miners.
Yusko said.
"Probably the fair value of bitcoin in this cycle will reach $75,000 or $80,000, say $BTC At the time, investors were buying up to fair value. Now there are new people, traders and speculators, because hedgers are selling.
I don't think it's going to go up 2.3 times [in this cycle]. I think it will double its fair value, which is $BTC So somewhere between Thanksgiving this year and June next year, it will hit an all-time high.
However, this hedge fund veteran believes that bitcoin and other crypto assets are likely to undergo a major correction between BTC's current and all-time highs.
We haven't seen a #cryptocurrency crash yet. It won't happen until June at the earliest. There is still a long way to go before the decline is halved, and after the March rush, before this year's tax season, another one is planned, let's call it a SpaceX-like explosion. Another wave of selloffs is coming. "
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