Mark Yusko, founder of Morgan Creek Capital Management, repeated a 400,000 dollar price estimate in a recent interview. He also said that Bitcoin will not magically rise immediately after the split. Yusko thinks that Bitcoin (BTC) gold will reach 400 thousand as soon as it reaches the market value, uses the following expressions:
“If the market value of Bitcoin equals the market value of gold (which I think makes perfect sense), we can easily see a price between $ 400,000 and $ 500,000.”
The Last Rally of Bitcoin
Speaking about Bitcoin’s last rally reaching $ 9,400, Yusko claims that this is a simple supply and demand story. The American investor explains that there are two types of buyers – flexible hodler and speculators. He states that the latter are responsible for short-term price movements. Yusko reminds us of “Black Thursday” on March 12 as a remarkable example. As of now, the ball seems to be in the hands of the bulls, and halving will take place in just four days.
The next day will not rise
Yusko said that the price will not “magically” rise one day after the halfway event. He explained that the situation would cause a short-term frustration for the bulls:
“There may even be a decline after halving, and then we slowly and steadily climb to the all-time high.”
The hedge fund manager estimates that BTC could reach up to $ 100,000 before reaching new heights in 2021.