Morgan Creek CEO and renowned crypto evangelist, Mark Yusko, recently appeared on CNBC’s Fast Money where he set a new year Bitcoin price prediction.
Mark Yusko Predicts Bitcoin
Yukso, who confirmed last year that Bitcoin was the best performing asset since October 2018 made a quite moderate bitcoin price prediction of $30k by end of the year 2020.
“I think the best thing about bitcoin today is the fundamentals. The fundamentals continue to increase and improve. Adoption is growing, and the number of transactions is up. All the fundamentals continue to get stronger… We see a lot of upward momentum through the mid-half this year and in the second half, you probably get to see a lot of the chasing that we saw back in ’17…” Says Yusko.
Further, he claimed that the price of Bitcoin has outperformed the stock market in the same timeframe since 2017. The Morgan Creek CEO, who previously ran an endowment fund, predicted that bitcoin’s 30% surge since the beginning of the year is entirely bullish in the long run.
Yukso’s Prediction Revives Hope On Twitter
As soon as Morgan Creek CEO, Mark Yusko Predicts Bitcoin, his statement have overtaken twitter with excitement. Interstingly, community members now refresh their hopes of a better bitcoin future. Many believers of the top cryptocurrencies seem to be in agreement with Yukso and expressed great satisfaction in his comments.
Yukso has made a few of such predictions in the past. Particularly last year, in an interview with CNBC, Yukso predicted a much higher bitcoin price of $100k by 2023. His amazing predictions, however, are not the most aggressive prediction so far.
Previously, the billionaire venture capitalist Tim Draper said that BTC could visit $250,000 in the next few years, mostly driven by the scalability issues which are now being fixed.
Bitcoin has been an attractive option for many normal and institutional traders. It paved away to grow radically this year with catalysts such as its inbound block reward halving in May, institutional adoption and price momentum which help to fuel its gains. Crypto could also be benefiting from the slowed-down economy which puts investors in the arms of Bitcoin.
Other Bitcoin Believers Mention Similar Opinions
Yusko’s colleague and Morgan Creek’s partner Anthony Pompliano recently pointed out that Bitcoin has been outperforming stocks. He said:
“HOT TAKE: Almost all of the actively managed hedge funds in crypto have underperformed Bitcoin over time.
Not a hot take because it is controversial, but rather because it is the unspoken secret of the industry.”
Image Source – Flickr
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