Mark Yusko Says Crypto Rally Has Just Begun, Predicts Speculative Blow Ahead Here’s the Timeline

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Morgan Creek Capital Founder and CIO Mark Yusko said Bitcoin (BTC) and the crypto markets have now entered bullish territory.

In a new CNBC interview, Yusko says Bitcoin and crypto markets are in the early stages of a new bull market that could last until next year when BTC goes through its next halving event. .

“I think the rally has only just begun. We have just entered what is known as the crypto summer seasonal period. There’s this four-year cycle around something called the halving, where the block rewards for the Bitcoin blockchain change every four years. This causes a period of accumulation. This event will take place next April.

Then we usually get a speculative burst after the halving event and then an overreaction to the downside called crypto winter.

Yusko also reiterates what he thinks is Bitcoin’s best use case. According to the head of Morgan Creek Capital, Bitcoin is on the verge of replacing gold as the base layer of money.

“Bitcoin is digital gold. It replaces what gold did for 5,000 years. There is only one currency in the world: gold.

Money is an asset that exists in the absence of a liability. Gold has played this role, it is the base layer of money. Debt-backed money, created by governments to facilitate trade, relies on money: gold

And for 5,000 years, gold has done a good job. But gold is not portable. It is not divisible. Bitcoin, a permanent and immutable ledger, plays this role as a base layer for new funds in the future.

And we will build the future of finance on top of that. The other things beyond like Ethereum or some of the other applications of blockchain technology may have a role. I see Ethereum more as a replacement for fiat currency.

At the time of writing, Bitcoin is trading for $30,787.

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