Morgan Creek Capital’s CEO, Mark Yusko, provides a bullish perspective on Bitcoin, indicating the start of an upswing for the primary cryptocurrency. Yusko, a seasoned expert in the financial domain, has also issued an advisory regarding a potential downturn.
Bitcoin’s Price Projected to Hit Six Figures by 2025
In a discussion on The Wolf of All Streets YouTube channel, Yusko expressed his conviction that Bitcoin could attain a value in the six figures by mid-2025, outstripping his current fair value assessments.
Yusko bases his fair value calculation for Bitcoin on network factors such as the growth in the number of users and miners. He suggests that during the current upmarket trend, Bitcoin’s fair value might reach $75,000 to $80,000.
Yusko acknowledges that with the entry of new market participants, Bitcoin’s price might surpass its fair value, possibly hitting as high as $150,000 between this year’s Thanksgiving and June of the next.
Heed the Potential for a Market Downturn
Despite his optimistic stance, Yusko cautions of a potential significant market downturn for Bitcoin and other cryptocurrencies before they set new records. He points out that the market is overdue for a substantial correction, which often happens around June. Furthermore, Yusko predicts another wave of sales preceding this year’s tax season, which could lead to market fluctuations.
Yusko’s insights emerge as Bitcoin currently trades near $52,000, illustrating the active market dynamics and investor moods. His comments remind investors of the volatile nature of digital currency markets, marked by rapid expansions and noteworthy downturns.