Mark Yusko, founder and CEO of Morgan Creek Capital Management, predicts that the cryptocurrencies bull market will begin in Q2 2023.
Mark Yusko, the founder of Morgan Creek Digital and an early investor in cryptocurrencies, said that he expects a “crypto summer” to kick off sometime this year—likely second quarter. However, he thinks it will be due to America’s interest rate regime rather than crypto-focused startups’ IPO success stories.
According to Yusko, the halving occurs every four years and will take place in early 2020.
Morgan Creek’s CEO said the market always anticipates a cryptocurrency’s halving nine months before that event, and summer is often when it occurs. Bitcoin has been frequently called a bubble, with some speculating that the cryptocurrency would reach $1000. However in January 2017 BI foreign exchange editor Bob Green and Bitcoin entrepreneur Chris Burniske predicted bitcoin’s value could rise as high as $2000 before long
Yusko’s prediction of a bullish outlook for bitcoin echoes previous predictions by other crypto heavyweights, such as John McAfee.
On Feb. 16, 2022, Bloomberg’s analysts identified a strong bullish pattern that indicated a high likelihood of another sharp run-up in the price of bitcoin.
Michael Van De Poppe, in a YouTube strategy session on December 27, 2022 predicted that bitcoin would experience a massive bullish trend. In his justification for this position he referred to the Glass Node Report which revealed significant cash flows between Centralized and Decentralized Exchanges
On a 24-hour basis, the combined volume of all stable currencies is $55.13 billion—90.73% of the total for crypto and 41.72% higher than bitcoin’s market share overall (down 0.34%).
