Mark Yusko Predicts Bitcoin to Reach $150,000 by 2024

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Mark Yusko, the visionary founder and CEO of Morgan Creek Capital Management, has put forth an audacious prediction about the future of Bitcoin that, if correct, could reshape the financial landscape. Yusko has built his illustrious career on a keen instinct for investment trends and his recent assertions have rippled through the finance community. He declares unreservedly that Bitcoin will prove itself to be the unequivocal “king” of the digital asset domain.

During a recent appearance on CNBC Television, conducted on March 27, Yusko showcased his undaunted faith in Bitcoin’s potential. His prognostication was startling – by 2024, Yusko envisions Bitcoin flourishing to an unparalleled value of $150,000.

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Yusko, over the course of his interview, offered up some insight into the reasoning that supports his ambitious claim. He maintains that the upcoming Bitcoin halving and the introduction of a Spot Bitcoin Exchange Traded Fund (ETF) are set to have a potent effect on Bitcoin’s price. Yusko’s detailed analysis of past Bitcoin trends has led him to the conclusion that the halving cycle invariably results in an appreciable increase in the cryptocurrency’s fair value.

The 2024 Bitcoin halving event, poised to occur in April, could create an even more dramatic alteration, according to Yusko. The event will present challenges for Bitcoin miners who will confront soaring transaction fees. This surge is predicted to send Bitcoin’s price up to an impressive $75,000.

The value of the cryptocurrency is then expected to double in the aftermath of the halving event, resulting in Bitcoin’s value reaching a staggering $150,000. Pointing towards increased investor interest and a pervasive fear of missing out, Yusko postulates that these factors will serve as catalysts for Bitcoin’s exponential price elevation.

Post-halving, Yusko posits that there will be a significant uptick in the demand for Spot Bitcoin ETFs. Simultaneously, the yield of new coins is projected to descend dramatically from 900 BTC to 450 BTC daily. “If there’s more demand than supply, price has to rise,” Yusko astutely opined.

Yusko, replete with faith in Bitcoin’s potential, anticipates that the cryptocurrency can “easily” see a tenfold increase over the ensuing decade, solidifying its status as a premier digital asset. “Bitcoin is the king, it is the dominant token. It is a better form of gold or digital property. And I do think it will be the best,” Yusko confidently asserted.

According to Yusko, Bitcoin is bound for its peak price by the close of 2024. He divulged that historically, Bitcoin experiences a value surge around nine months subsequent to a halving event, typically in December. Following this apex, Bitcoin traditionally enters a bear market phase.

During this transitional period, Yusko suggests that lesser-known crypto enterprises could see substantial growth, potentially outpacing the profits garnered by Bitcoin. The investment ace divulged some of the alternate digital assets that Morgan Creek Capital Management typically invests in and holds, naming Solana, Avalanche, and Coinbase amongst others.

On the Bitcoin price chart, a contest of power plays out between the bullish investors and the bears, each vying for control over the Bitcoin market. Yusko’s bold prediction keeps the financial world eagerly watching to see if the anticipated bull cycle indeed comes to fruition.