Hedge Fund Manager Predicts When Bitcoin Price Will Reach $150,000
2024年4月2日 - 9:05AM
NEWSBTC
Founder and Chief Executive Officer (CEO) of Morgan Creek Capital
Management, Mark Yusko has predicted a massive price increase for
Bitcoin during the 2024 bull cycle. Emphasizing Bitcoin’s
immense potential, the hedge fund manager has crowned it as the
unrivaled “King” among digital assets. $150,000 Price Target Set
For BTC Appearing in a recent interview with CNBC Television on
March 27, Yusko shared a bold forecast of Bitcoin, predicting that
the cryptocurrency will see a significant rise to $150,000 in
2024. When asked why he believes the cryptocurrency would
have such an astronomical price increase, Yusko cited the impacts
of the upcoming Bitcoin halving and Spot Bitcoin Exchange Traded
Fund (ETF), on the price of BTC. The hedge fund manager has
revealed that historically after a BTC halving cycle is completed,
the fair value of the cryptocurrency rises. Related Reading:
Dogecoin Price Breaks New 3-Year High – Here Are Factors That Could
Drive The Price To $1 He explained that when the upcoming 2024
Bitcoin halving occurs in April, BTC miners will face challenges,
with transaction fees poised to soar, consequently driving a price
increase to $75,000. After the Bitcoin halving event, the
cryptocurrency is expected to surge two times its fair value to
$150,000. The hedge fund manager cited factors like increased
interest from investors and Fear of Missing Out (FOMO) as triggers
for this price spike. Yusko also revealed that after the
Bitcoin halving, there would be a surge in demand for Spot Bitcoin
ETFs, while the supply of new coins would decrease from 900 BTC to
450 BTC a day. “If there’s more demand than supply, price has
to rise,” the hedge fund manager stated. The investment
management CEO has expressed a strong belief in BTC’S value as
one of the world’s leading digital assets. He envisions the
cryptocurrency “easily” skyrocketing by 10x over the next
decade. “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 said. Bitcoin Price Top Expected By
Year’s End During his interview, Yusko predicted that Bitcoin could
reach its peak price value by the end of 2024. The hedge fund
manager disclosed that historically, nine months after a Bitcoin
halving event, sometime in December, BTC undergoes a surge to its
peak value before entering the next bear market. Related
Reading: Shiba Inu Dips Below $0.00003 Again – Can Bulls Reverse
The Bullish Momentum? During this time, the investment management
CEO has stated that smaller crypto projects could potentially
experience substantial increases, surpassing the gains witnessed by
BTC. He disclosed several altcoins and investment assets that his
company, Morgan Creek Capital Management, typically buys and HODLs,
including Solana, Avalanche and Coinbase. BTC bulls and bears vie
for control | Source: BTCUSD on Tradingview.com Featured image from
Crypto News, chart from Tradingview.com
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