Morgan Creek’s Mark Yusko explains the reasons for which 2024 will be extremely bullish for crypto. Check out the latest reports about this below.
2024 to be bullish for crypto
According to Morgan Creek Capital’s founder and CEO, Mark Yusko, the cryptocurrency industry is expected to witness significant growth in 2024.
In a recent interview with The Dales Report, Yusko expressed his belief that 2024 will be a powerful year for the crypto industry, owing to the convergence of several favorable factors.
“That’s kind of what we have coming into 2024. We have this celestial alignment of all the things, all the cycles. So we have the four-year cycle in Bitcoin, right? The halving happens in April, or early May, depending on the blocks. But that’s going to happen.
We’ve got this wave of liquidity that’s about to be unleashed with the approval of the [spot Bitcoin] exchange-traded fund (ETF).
We’ve got this cyclical wave of it looks like the economy is slowing therefore the Federal Reserve’s going to go back to accommodation which will devalue the dollar more, which means if we price Bitcoin in dollars, the price of Bitcoin goes up.”
According to a hedge fund veteran, the crypto industry may benefit from a “technological wave” due to new talent entering the space.
“We’ve got a technological wave where 650,000 people were laid off from Big Tech. That’s a lot. And it turns out, that some of them don’t have enough money to never work again. Some do, but many don’t. And turns out, some of them are like really smart. And so they are starting new companies…
Turns out the most powerful force in the universe… …is human creativity.”
Regarding Bitcoin’s price today, at the moment of writing this article, BTC is trading in the red and the king coin is priced at $45,174.
