Mark Yusko, founder of Morgan Creek Capital Management, predicts the 2028 levels of Bitcoin price. Leading crypto to fund manager will surpass 6-digit numbers in the coming years.
Mark Yusko triples Bitcoin price predictions
The famous manager had previously included high-bar Bitcoin price predictions of around $100,000. In his latest statements, he drew attention to the gold market. Yusko predicts that Bitcoin will close the gap with gold by 2028. In such a case, it determines the following levels that BTC will reach:
The monetary value of gold is about 6 trillion dollars. I think Bitcoin can replace all of this by 2028. A monetary value of $6 trillion means an increase of about 10 times, which gives us a price of about $300,000.
Yusko also pointed out the next BTC halving cycle that will take place in April 2024. The leader said that the crypto can drop back $ 100,000 by this date. While the famous executive finds $300,000 possible for 2028, he is confident that we will cross the psychological threshold of $100,000 in the short term. According to their analysis:
We add a zero every Bitcoin halving cycle. I think BTC may experience a rise to the level of 100 thousand dollars by next April.
“Must be portable or divisible”
Mark Yusko’s current statements generally brought Bitcoin against gold. The expert underlines that gold is not portable or divisible. Such assets are of critical importance, especially in times of war, as in Ukraine. On the other hand, Bitcoin provides a permanent solution to these problems.
Bitcoin’s social dominance is growing
Aside from what Yusko said, BTC became one of the prominent names in social metrics after the 0.25 basis point rate hike on July 26. Prior to the FOMC announcement, BTC’s social dominance had dropped by about 22%. As Kriptokoin.com, we have included the details in this article.
However, after the announcement, the scenario quickly changed and social dominance quickly rose above 26%. Although it is currently around 25%, it continues to be higher than its pre-FOMC level.
This remarkable increase in social dominance is often associated with a sense of dread among market participants, which interestingly tends to increase the likelihood of a price increase. As we observe the dynamics of this situation, there is a palpable sense of expectation in the crypto community. Many are keeping a close eye on Bitcoin’s price movements to see how this fear-driven sentiment could shape their course in the coming days.
How is the Bitcoin price?
On July 26, Bitcoin’s daily chart showed a glimmer of hope as it witnessed a slight increase in value and managed to close with a profit. Notably, it was close to $30,000, a level that it had dropped before, meanwhile. It is currently trading slightly lower again near $29,000.
37456
