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Bitcoin Price Could Reach $150,000: Mark Yusko Predicts

13 Aug

Bitcoin Price Could Reach $150,000: Mark Yusko Predicts

• Mark Yusko of Morgan Creek Capital predicts that two catalysts could send the price of Bitcoin up to $100,000 – $150,000.
• These catalysts include the upcoming halving event and the possible approval for a spot-based Bitcoin ETF.
• If financial advisors allocate just 1% of their $30 trillion to BTC, it will have a “huge” impact on its price.

Mark Yusko Predicts Major Increase in Bitcoin Price

Morgan Creek Capital founder Mark Yusko is forecasting a major surge in the price of Bitcoin (BTC) due to two key catalysts: its upcoming halving event and potential approval of a spot-based Bitcoin exchange-traded fund (ETF). According to Yusko’s predictions, this could lead the value of BTC to reach as high as $150,000.

Halving Event

Yusko believes that the current fair market value of BTC is around $55,000 but this will likely climb to $100,000 by the time the halving event occurs in April/May/June 2021. He believes that speculation from investors could then push this figure even higher to somewhere between $100,000 -$150,00.

Spot-Based ETF Approval

The other factor that could affect BTC’s price is the approval and timing of a spot-based Bitcoin ETF. If financial advisors allocated just 1% of their total funds ($30 trillion) towards investing in BTC it would have an enormous effect on its price according to Yusko.

Current Price Point

At time of writing Bitcoin is trading at 29,373 which indicates a 410% rise should it reach its upper target range suggested by Yusko.

Conclusion

In conclusion, these two catalysts predicted by Mark Yuski are likely to have significant impacts on increasing the value of Bitcoin if they come into fruition as expected.