Long waiting – This Morgan Creek executive believes the Bitcoin (BTC) bull run will wait for the next block reward halving (halving), although the markets are entitled to technical recoveries in the meantime.
Bitcoin Bull Run: not this year, not in a year
Everyone starts with their hypothesis a bit, with their crystal ball. Crypto players try to guess the agenda of bears and bulls, especially based on historical data. That is what the director of the investment company Morgan Creek, Mark Yusko, intends to do two years of bear markets for the bitcoin price.
The bulls’ legs are then frozen, numb from the cold or weakened by then and can’t really walk long distances. No bull run in 2022, nor in 2023, according to Zusko, years to come pretty hard for the price of bitcoin and the crypto markets, whose cycle tends to coincide with that of the oldest cryptocurrency.
Bear and Bull Season: Spring before Summer
In the short term, Mark Yusko still has doubts that the price of Bitcoin has reached its level bottom for this cycle. The cryptocurrency price is fell below $18,000, in the month of June. Since then he has managed to win back important support.
However, markets remain cautious and await the breakout of a major short-term resistance zone to confirm the start of a technical recovery that could take bitcoin price back to levels near $30,000.
Mark Yusko also foresees a distant bull run in two years, but still expects slight upward corrections in the short term. The crypto winter should additionally end within two years. The crypto spring will come much sooner, but bulls and warm summer weather won’t be back in the markets until 2024.
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End of the bear market and pre-bull: a race to a year ahead
XOR Strategy founder Aurélien Ohayon recently shared a graphic on Twitter to show Bitcoin about to enter a pre-bull zone and thus exit the bear market.
The long-term forecasts derived from this graphic are more optimistic than that of Mark Yusko. Bitcoin price would enter the bull zone after mid-2023 to set a new six-digit ATH after mid-2024 for the next bull cycle.
Before Bitcoin’s price returned to around $20,000, predictions persisted that the cryptocurrency’s price would surge to $100,000. Mark Yusko’s predictions are cautious considering this is next halving will be the trigger for the next bull run. But history is not always repeated.
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