Another big bet on Bitcoin is here. CEO of Morgan Creek Capital, Mark Yusko predicts that the value of Bitcoin can go up to $30000 before the next major pullback.
In a recent interview with CNBC, the investment adviser, Mark Yusko states that Bitcoin’s upcoming major move can be $30000 before another correction. Besides that, he said, Bitcoin will more likely touch $100,000 as soon as 2021.
“[This rally] will probably take us into the $30,000 level before we get another little correction,”
— CNBC's Fast Money (@CNBCFastMoney) July 8, 2019
Mark Yusko is the famous American investors and also a hedge fund manager. During an interview, he states that we are currently in the bull market and once we reach the target of $30000, we may then have a major correction. Talking about the previous high level of Bitcoin’s value that was nearing $20000, Yusko said that “we will definitely return to the previous high levels”.
In fact, Bitcoin is currently showing the bullish sign in its trading value. It is surging with 3.78 percent growth within the past 24 hours and trading at the value $12320 against USD. Moreover, the market cap of Bitcoin counts at $219,402,122,976.
While asked about “Is this rise ($30000) going to happen soon”, Yuko recalls earlier performance of the Bitcoin and responded;
“Last year, Bitcoin was 70% higher than the current levels, so everyone thinks we’re in the bear market. But in the last 9 months, Bitcoin has increased by 70% and has become the best performing asset class … ”
In addition, the short video clip also revealed that Yusko thinks about Bitcoin’s long journey, say by the year 2021. He mentioned that Bitcoin may reach $100,000 by 2021 which was one of the epic statement showed in an interview – in fact, quoting $100,000 point, Co-founder of Morgan Creek Capital, Anthony Pompliano said;
DROPPING THAT $100K NUMBER LIKE AN ABSOLUTE LEGEND 🔥🔥
— Pomp 🌪 (@APompliano) July 8, 2019
So readers, what do you think the next move of Bitcoin will be.? Do you think it will reach $30000 before a major pullback.? Let us know in the comment below
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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com