The post Crypto Market Outlook: Mark Yusko Predicts The Timeline For Massive Bitcoin Bull Run appeared first on Coinpedia Fintech News

In a recent interview with CNBC, Mark Yusko, founder and CIO of Morgan Creek Capital, shared his optimistic outlook on Bitcoin (BTC) and the cryptocurrency markets, suggesting that they have entered a bullish phase. Yusko believes that the ongoing rally in Bitcoin is just the beginning of a larger bull market, driven by the four-year cycle surrounding Bitcoin’s halving events.

Bitcoin’s halving, which occurs every four years, involves adjusting the block rewards in the Bitcoin blockchain. According to Yusko, the next halving event is expected in April, leading to a period of accumulation before a potential speculative blow-off. This blow-off might be followed by an overreaction on the downside, commonly known as “crypto winter.”

Yusko emphasizes Bitcoin’s top use case, positioning it as a replacement for gold as the base layer of money. He views Bitcoin as digital gold with the potential to fulfill the role that gold has played for thousands of years. Gold has traditionally served as the foundation of currency, with fiat currencies backed by debt built on top of it. Yusko sees Bitcoin’s permanence, divisibility, and immutability as advantages that make it suitable for serving as the base layer of new money in the future.

While Yusko is bullish on Bitcoin, he sees Ethereum and other blockchain applications as potential replacements for fiat currencies, rather than direct competitors to Bitcoin’s role as digital gold.

---

Filed under: Bitcoin - @ June 26, 2023 3:10 am