Mark Yusko in an interview with CNBC announced that the market is only at the very beginning of a new bullish cycle that will last until next spring, when bitcoin will have another halving.
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“I think the rally is just beginning.. We have entered the so-called cryptocurrency summer. There is a four-year cycle of bitcoin halving the miners’ reward. And now begins the period of accumulation, which will last until April. Then there is usually a speculative explosion of purchases, which ends with a rapid fall in the rate. This period is called cryptozyme,” argues the founder of Morgan Creek.
Mark Yusco once again confirmed that he sees bitcoin as a replacement for gold, and that BTC will become a means of accumulation as well as a “base level of money”.
“Bitcoin will take on the role of real gold, which for 5 000 years has been the universal monetary. The base layer of currency. Gold-backed national currencies, created by governments to facilitate trade, originally originated from the main precious metal. But gold has problems – it’s hard to carry and divide. Bitcoin, created on an immutable blockchain, could indeed play the role of gold for the money of the future. And we will build the finance of the future around bitcoin. Some other assets and technologies, like ether and smart contracts, could also play a role. But to me, ether is more of a substitute for fiat currencies,” says Mark Yusko.
Mark Yusco previously predicted that a new bull market cycle would begin precisely in June.