Crypto Hedge Fund Veteran Mark Yusko Predicts Bitcoin ‘Spring’ Kick Off BTC Move – Here’s His Timeline
Morgan Creek Digital Managing Partner Mark Yusko predicts when he thinks Bitcoin (BTC) will renew into another bull market.
In an interview with Stansberry Research, Yusko says Bitcoin’s recent market structure is indicative of a bottoming process, with BTC printing several higher lows and higher highs.
“I want to argue, and I’ve been arguing this for about ten days or so, and I’m not ready to absolutely call the bottom, but if you go back a week ago and watch a podcast I did… I said ‘Know what a look, we’ve made three higher bottoms.” It hit $17,500, then we went up and we dropped to about $18,000-something, then we went up, and then we went down to $1[ads1]9,000, and then we went up, and then was there a number around $20,900 and I said if we break $20,900, we have three higher lows [and] three higher altitudes. It’s a pretty good bull trend, and maybe ‘spring’ is here.”
The crypto hedge fund manager says he agrees with the traditional thinking that Bitcoin goes through speculative cycles.
According to Yusko, Bitcoin is likely in the “spring” part of the cycle where winter is over, and BTC forms a base for the next “summer” bull run, which he predicts will happen a little before the next halving in early to mid-2024.
“So I would argue that spring has arrived. If you look at the last two cycles, we’re the same number of days into that cycle where spring began and winter ended. Spring can last months. We don’t need to have an immediate bull market. So when we’ll get to the summer, that’s when we’ll get the next speculative move, and my guess is that it will come in anticipation of the next halving in 2024.”
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