The next Bitcoin rally will start in the second quarter of 2023 – Mark Yusko explains why
Anticipation of Bitcoin's next halving will spark crypto rally in 2023 regardless of grim macro picture, manager says of hedge funds Mark Yusko.
Cointelegraph YouTube SubscribeThe anticipation of the next Bitcoin (BTC) halving will be the main catalyst that will trigger a new crypto rally as early as Q2 2023, according to hedge fund manager Mark Yusko.
The halving mechanism, which halves Bitcoin's block rewards every four years, has always been a major catalyst for crypto rallies. The next halving is expected to take place in early 2024.
“Usually the market anticipates this by around nine months,” Yusko said in a recent interview with Cointelegraph.
According to the hedge fund manager, the halving will propel Bitcoin to $100,000, and potentially beyond, "according to the laws of mathematics".
“If the block rewards are halved to 3.125 from 6.25, then the price has to double for miners to keep making money,” he said.
Yusko believes that the recovery will take place despite an unfavorable macroeconomic situation dominated by high interest rates and slow growth.
This is because, according to Yusko, digital assets will ultimately prove uncorrelated with stock markets.
“Traditional assets are driven by economic growth, Fed policies, inflation. Crypto is driven by the technology itself, millennial adoption,” Yusko explained.
Watch the full interview on our YouTube channel and don't forget to subscribe!
Anticipation of Bitcoin's next halving will spark crypto rally in 2023 regardless of grim macro picture, manager says of hedge funds Mark Yusko.
Cointelegraph YouTube SubscribeThe anticipation of the next Bitcoin (BTC) halving will be the main catalyst that will trigger a new crypto rally as early as Q2 2023, according to hedge fund manager Mark Yusko.
The halving mechanism, which halves Bitcoin's block rewards every four years, has always been a major catalyst for crypto rallies. The next halving is expected to take place in early 2024.
“Usually the market anticipates this by around nine months,” Yusko said in a recent interview with Cointelegraph.
According to the hedge fund manager, the halving will propel Bitcoin to $100,000, and potentially beyond, "according to the laws of mathematics".
“If the block rewards are halved to 3.125 from 6.25, then the price has to double for miners to keep making money,” he said.
Yusko believes that the recovery will take place despite an unfavorable macroeconomic situation dominated by high interest rates and slow growth.
This is because, according to Yusko, digital assets will ultimately prove uncorrelated with stock markets.
“Traditional assets are driven by economic growth, Fed policies, inflation. Crypto is driven by the technology itself, millennial adoption,” Yusko explained.
Watch the full interview on our YouTube channel and don't forget to subscribe!
What's Your Reaction?
