Crypto Hedge Fund Veteran Predicts Explosive Parabolic Movement for Bitcoin – Here’s His Timeline
Morgan Creek Digital managing partner Mark Yusko believes that the bottom is already in for Bitcoin (BTC), and there is reason for a massive rally in less than a year.
In a new interview with Stansberry Research, Yusko tells host Matt McCall that after nearly ten months of frustration and financial loss, the crypto winter is finally over with Bitcoin ready to move in about half a year.
“I think crypto spring is here. We are still a long way from crypto summer when we get another parabolic boost.
But it will probably come in six to nine months.”
The crypto hedge fund manager looks beyond the fluctuating price charts to emphasize the importance of the blockchain as represented by the original crypto asset.
“Bitcoin is a perfect store of value. It’s basically digital gold. Gold is the only money in the history of the world. Bitcoin is as good as gold. It’s just as small, but it’s more shareable and more portable.”
Yusko goes on to explain why he is not worried about the large losses Bitcoin has incurred since the end of 2021, noting that he believes BTC already reached a cycle bottom of around $17,500 back in mid-June.
Everything has been down since November because we had these massive liquidations of speculation. When you get a margin call, you don’t get to sell what you want to sell. You need to sell gold, bonds and Bitcoin.
The things that [previously] didn’t go down, now down. So now everything goes down, correlations go up, but it’s a temporal thing. Now the correlations reverse again.
[Last] Friday was a good example: Markets were down, Bitcoin was up. Bitcoin has risen a lot since mid-June. That’s when I would say was the bottom, the $17,500 candle that day.
We made a series of higher lows and higher highs.”
At the time of writing, Bitcoin is trading at $24,029.
I
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered straight to your inbox
Check price action
Follow us on TwitterFacebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/Macrovector
