Morgan Creek CIO Mark Yusko bitcoin (BTC) believes it is on the verge of changing its trend as it prepares for its halving in 2024.
Interview with Crypto Banter Mark YuskoHe noted that Bitcoin may already be in a sideways accumulation phase after it has managed to regain the $18,000 price level.
He also believes that BTC is approaching a new bull market due to its halving cycle.
We went down from $18,000 to $15,000 and then to $18,000. A perfect cup and handle pattern has formed, but spring is interestingly straight and reminiscent of the four-year cycle.
NEWS CONTINUES BELOWThe key here is that the spring is stable but there is a lot of fluctuation. Summer, which I think will start in April-May, usually nine months before the halving, that’s when things get fun.
Bitcoin Halving On The Way
The halving, which halves the rewards for Bitcoin miners, is scheduled to take place in March 2024. The hedge fund specialist is of the opinion that this event “guarantees” that the price of the flagship crypto asset will increase.
The truth is that Bitcoin is very perfectly designed. It’s really surprising when you think about it. So I’m pretty sure Satoshi isn’t a single person because I don’t think a single person can be that smart. Just think about halving. The halving guarantees an increase in ascension.
Yusko considers Bitcoin the best investment an investor can make.
One thing I am sure of is that blockchain technology is the evolution of computing power that has been going on since the 1950s. Trust will be replaced by facts and blockchain will take care of everything. The Bitcoin blockchain is the world’s most powerful supercomputer. It is the most powerful computing network in the world and is 1,500 times larger. It is 1,500 times more powerful than CERN’s supercomputer. Owning a part of this network is the most important thing you can do in this world.