Mark Yusko, the founder and CEO of investment firm Morgan Creek Capital, stated in an online publication he participated in that they may experience a period of rise in Bitcoin.
Stating that the biggest crypto money is in the process of creating a bottom in this period, Yusko said, "We have caught a good bull trend at the moment and maybe Bitcoin spring will come in the coming days. This 'spring' may take months."
While Bitcoin has been hovering around the $ 24,000 level in recent days, the debates on whether there is a bottom level and whether there will be a new downward wave continue. One of the names who expressed his ideas on the subject was Mark Yusko, the founder and CEO of Morgan Creek Capital.
Speaking in an interview with Stansberry Research, Yusko stated that the market structure of Bitcoin is a process of creating a bottom and used the following statements:
“I have been discussing this issue for about 10 days. For now, I can't say 'We found the bottom' clearly. However, I still stand by the comments I made in a podcast I attended last week. We found 3 peak levels at the bottom. We went down to 17,500 and then we went up and came back to 18 thousand dollars. We went up again, this time down to 19 thousand dollars. Then we went up for the third time and went down to $ 20,900. And if we stay above $20,900, we'll have 3 bottom tops and 3 tops of the hill in total. This is a very good bull trend and may mark the beginning of Bitcoin spring.”
Stating that Bitcoin is currently in the spring period, when the winter season ends, Yusko stated that this 'spring' may take months:
“I can insist that spring is coming. If you look at the last two cycles, we are now on par with the number of days where winter ends and spring begins. This spring could take months. A bull market does not occur in a very short time. It won't come right away, but spring comes first and then summer. At that time, I think we will see serious speculative movements. I believe that this period will be experienced in 2024 with the expectation of the rise that will occur with the halving of the prize.”
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