Morgan Creek’s Mark Yusko Drops New Bitcoin Outlook

Morgan Creek’s Mark Yusko is dropping a new Bitcoin outlook. Check out the latest reports about this below.

It’s been just revealed that Morgan Creek founder and CIO Mark Yusko says that Bitcoin (BTC) could be in the midst of shifting its trend as it gears up for the 2024 halving.

In a new Crypto Banter interview, Yusko made sure to explain to people Bitcoin may already be in a sideways accumulation phase after managing to recover the $18,000 price level.

He also believes that BTC is inching closer toward a new bull market based on the halving cycle.

“We had the dip from $18,000 down to $15,000 and then back to $18,000. We made the perfect cup and handle pattern, but spring – interestingly enough, think about the four-year cycle, spring is basically flat…”

He continued and said the following:

“The key there is spring is flat, but there’s a lot of volatility. Summer, which I think starts in April-May, usually nine months ahead of the halving, that’s when things are going to get fun.”

The halving will be slashing the rewards issued to Bitcoin miners by half, and it is slated to take place in March 2024. The hedge fund veteran says that the event “guarantees” that the price of BTC will go up.

According to the latest reports, the popular crypto analyst Benjamin Cowen says that the historical price movement of Bitcoin (BTC) suggests that the top crypto asset will likely have a long year in 2023.

In a new video, Cowen said recently that in the past cycles, Bitcoin traded in a wide range following a bear market.

“I want to remind people that, and this is my own experience, I’ve said this many times: the year after the bear market year is often a sideways year. So far, that’s not been the case. It’s mainly just been up.”