Crypto Bull Market on the Horizon: Insights from Mark Yusko
Mark Yusko, the founder, and CEO of Morgan Creek Digital, maintains his belief that a bull market for digital assets is on the horizon.
During a recent interview with Blockworks Macro, Yusko acknowledged that his previous prediction of a crypto bull market starting this month might have been premature.
Now, Yusko expects a period of increased cryptocurrency activity, which he refers to as a “crypto summer,” to commence around mid-June.
Yusko believes that Bitcoin (BTC) is now in a position to experience significant growth as it shows signs of a technical reversal pattern.
Yusko also finds it interesting that Bitcoin has remained relatively stable over the past year, despite experiencing significant drops from $60,000 to $27,000 and even as low as $15,000 during the FTX incident.
According to Yusko, the chart reflects an intriguing pattern known as an inverse head and shoulders at $27,000, which indicates a potential upward movement. Positive news catalysts are necessary to drive momentum.
READ MORE: Bitcoin Bulls Gain Momentum: Experts Predict Surging Price Action
Regarding the recent collapse of several regional banks, Yusko suggests that it may have been orchestrated to facilitate the introduction of a central bank digital currency (CBDC).
Yusko finds it intriguing that despite the bank failures, Bitcoin has seen meaningful growth, which leads him to speculate whether these events were designed to instill fear within the banking system, thereby increasing acceptance of the forthcoming CBDC.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
