Mark Yusko, co-founder of Morgan Creek Capital. Bitcoin He further increased his prediction that the price will reach a six-figure price in the coming months.
In his new interview with CNBC, Yusko claimed that BTC could triple its current fair value or double its fair value after the halving.
According to the veteran hedge funder, Bitcoin’s fair value is estimated based on the number of users and miners or network effects.
“We examine today’s fair value from the Metcalfe Law model. Current indicators also point us to approximately $50,000. The halving occurs within three weeks. What halving does is reduce block rewards, the amount of money given to miners to secure the network. If these rewards are halved, which they are, most miners will be in a difficult situation. So what happened historically? Price goes up, fair value goes up. That brings it to $100,000.
However, we can say that this time the situation is a little different, because instead of just block rewards, we receive transaction fees due to rankings and posts. Let’s say this time the fair value only goes up to $75,000. Then after the halving you get a lot of interest in the asset, a lot of people experience FOMO and we normally see about double fair value in the cycle.
So last cycle the fair value was $30,000, we went up to $69,000. This time around, I think we’ll probably double down because there’s less leverage. “This brings us to $150,000.”
As we reported as Koinfinans.com, Bitcoin was trading at $70,882 at the time of writing this article.
According to Yusko, BTC may peak for the bull cycle, which will occur approximately nine months after the halving.
“So the big move will happen after the halving. So the halving will most likely occur sometime between April 20 and April 21. Once this happens, you start to see an increase in demand for spot Bitcoin ETFs and others who are interested. However, the supply of new coins decreases from 900 to 450 per day.
Think about it… If there is more demand than supply, the price must rise. So the price starts to rise. It begins to become more exponential or parabolic towards the end of the year, and historically around nine months after the halving. “So we’ll see prices peak around Thanksgiving or Christmas before the next bear market.”
