Mark Yusko explained when he expects the price of Bitcoin to reach $ 400,000.
The founder of Morgan Creek Capital Managment claims that the largest cryptocurrency could reach $ 400,000.
This can be done, he explained, when BTC has a market capitalization of gold.
“If we get to parity with gold, which means the market capitalization of Bitcoin be equal to that of gold (which I think is logical) could easily see $ 400,000 – $ 500,000.”
Yusko also commented on the recent rally of the flagship cryptocurrency to $ 9,400. He explained that there are two types of buyers – sustainable holders and speculators, with the latter responsible for short-term price action.
The founder of Morgan Creek gave March 12 as an example – when the price of Bitcoin fell by 38% during a contraction in liquidity. At the moment, the bulls seem to be on the move.
Yusko warned Bitcoin enthusiasts that the price would not ‘magically’ jump the day after the event. He believes that speculators will ‘sell the news’ and thus sow short-term frustration for the bulls.
“In fact, there may be a decline after halving and then there may be a slow and gradual movement to a new peak.”
Jusko claims that Bitcoin could reach $ 100,000 by 2021.