Cryptocurrency Mark Yusko, managing partner of hedge fund Morgan Creek Digital, in an interview with bitcoinHe talked about the future of ‘s and the bear market.
bitcoin Thinking that the price is at the bottom, Yusko said that after a period of 10 months of losses, the crypto winter is over and Bitcoin will enter a rally again in an average of 6-9 months.
Describing Bitcoin as an excellent store of value and digital gold, Yusko stated that he is not worried about the sharp decline that has continued since the end of 2021.
Thinking that Bitcoin has reached the bottom of the bear cycle at $17500, Yusko said:
“I think the crypto spring is starting. But looking at the parabolic movement, we still need some time for crypto writing. This will likely happen in six to nine months.
Bitcoin is an excellent store of value. It is basically digital gold. Gold is the only money in the history of the world and Bitcoin is just as good as gold. In addition to scarcity, it has the ability to divide and move.
Things are not going well as of November as we see the liquidation of overly leveraged positions. In the process, everything fell and correlations rose. I think this is temporary. This correlation is now reversing.
Last Friday was a good example, the markets fell but Bitcoin rose.
After the low of $17500, we move forward by making higher lows and higher highs. I think this is the bottom.”
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!