Mark Yusko, founder and CEO of Morgan Creek Capital, recently made a bold prediction on the future price of Bitcoin on CNBC's "Fast Money" program. He believes that Bitcoin will exceed $150,000 this year.
With the price of Bitcoin recently rising into the $70,000 range, Yusko said investors should include at least 1% to 3% of their asset allocation in Bitcoin. He believes that Bitcoin is the "king", the dominant token in the market, and a better form of asset than gold.
Optimistic about tenfold growth potential
During the interview, Yusko further predicted that considering the “Law of Large Numbers”, which means considering the development of Bitcoin from past history, he believes that Bitcoin will easily achieve tenfold growth in the next ten years. He cited the Bitcoin Spot ETF, a product launched in January, as one of the important factors driving this cryptocurrency rally.
In the past Bitcoin halving cycle, it was often accompanied by a considerable correction and then ushered in a wave of gains. With the countdown to Bitcoin halving less than 20 days, Yusko expects that the Bitcoin halving event will lead to The supply shortage further strengthens the significant support for BTC price.
Christmas high predicted
In addition, after experiencing the halving event, Yusko pointed out that the market value and price of Bitcoin will show an accelerated upward trend. This upward trend will not only continue for a while, but will gradually accelerate over time. However, it is worth mentioning that Yusko also predicted the time when the market will reach its peak, he said:
About nine months after the halving, probably around Thanksgiving or Christmas, we will see prices peak and then enter the next bear market.
