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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin (BTC) May Hit $250K, Predicts Morgan Creek Capital Founder

Kent Tenix
Kent Tenix
1 year ago
3 mins read
BTC

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Many believe Bitcoin will bounce back to break the $60,000 price mark. But Mark Yusko seems to have a bigger picture of the token’s future price. Mark Yusko is the CEO, founder, and chief investment officer of Morgan Creek Capital.

In his speech, the price of Bitcoin could get to $250,000 in the next five years. One reason for this possibility is that Bitcoin has gone past being a valued token. Unfortunately, many investors fail to see it from this perspective. He revealed this information in an interview held in June 2021.

Related Reading: Bitcoin Supply In Profit Continues Decline, But Still Not At Historical Bottom Zone

As per the recent industry gossip, Yusko still stands his ground on the future price of Bitcoin.

BTC Historical Performance (Halving Events)

There’s another way to look at the possibility of Bitcoin’s massive growth in the future, says Yusko. This has to do with its historical performance for every halving event it experiences. 

Bitcoin follows a particular trend of adding a zero for each halving event. The halving brought it to $10; after the second, it became $100. The third and fourth halving brought to $1,000 and $10,000, respectively. In light of this, the next possible price of the token will be $100,000.

Briefing On Bitcoin Price History

Despite the bearish market, it’s clear that Bitcoin has witnessed significant growth from the time of launch till date. In 2013, BTC hit $100 for the first time and rose to $230 on April 8. After several fluctuating movements in its price, it spiked to a short-lived $1,237 price mark in December 2013.

2014 and 2015 were not very eventful for the token as it plunged through 2014. BTC greeted 2015 with a price slightly above $300, though it gradually climbed before the year ran out. It sustained the growth throughout 2016 and ended it at a price of approximately $900.

The token’s value kept rising regardless of the ups and downs it witnessed over the years. It eventually hit its all-time high of $68,789 on November 10, 2021, and ended the year at $64,995. 

The token price between January and March 2022 started another dipping round. At the end of March, it dropped to below $47,500. Although it maintains a steady up-and-down movement, its price is now down to $19,096, as per data from TradingView.

BTCUSD
Bitcoin’s price is currently trading below $19,000. | BTCUSD price chart from TradingView.com

The Trigger For The Next Bull Cycle

The investment officer, founder, and CEO of Morgan Creek Capital has also expressed his thoughts about the trigger for the next bull cycle. He revealed this information in an interview on YouTube captioned Thinking Crypto, released on September 22.

Related Reading: Here’s Why This Expert Thinks Bitcoin Prices Might Fall

In his speech, he believes that the Fed will desist from its quantitative tightening in no distant time. This will trigger a bull run in the global crypto market.

Featured image from  Pixabay and chart from TradingView.com
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Kent Tenix
Kent Tenix

Kent Tenix

Kent is a talented freelance writer and journalist who creates insightful and thought-provoking content. With over 5 years of experience, she has honed her skills and established herself as an expert in her field. Kent is especially passionate about in-depth reporting and investigative journalism. She thoroughly researches every topic and story she covers to provide readers with comprehensive information and perceptive analysis. Whether she's reporting on crypto, business, technology, or finance, Kent prioritizes accuracy, nuance, and integrity. Her goal with every piece is to inform readers and inspire meaningful conversations and positive change. Kent enjoys traveling, photography, and spending time with her family when she's not tirelessly conducting interviews or poring over data. She hopes to continue using her writing to enlighten and engage audiences on issues that matter.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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