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Mark Yusko predicts that the price of Bitcoin in 2024 will be $150,000

His forecast can be based on an analysis of fundamental factors such as the growth of confidence in cryptocurrencies among financial institutions, the long-term investment outlook in Bitcoin and the growing interest of institutional investors.

Date: 2024-04-02 Author: Marek Stiller
Mark Yusko predicts that the price of Bitcoin in 2024 will be $150,000

Morgan Creek Capital CEO Mark Yusko predicts that the price of one Bitcoin (BTC) could reach $150,000 by the end of the year – more than double the current price.

In an interview with CNBC’s Fast Money on Saturday, the hedge fund manager argued that the fair market value of Bitcoin is currently $50,000, based on Metcalfe’s law – an equation that determines the value of a telecommunications network based on the number of its users.

Mark Yusko’s math-based prediction

After factoring in Bitcoin’s upcoming “halving” and increased transaction fees from Ordinals NFT, the figure rises to $75,000. Then, given Bitcoin’s propensity to double in fair value during a bull market, the asset could reach $150,000 in the next 12 months.

“The important movement takes place after the halving,” – Yusko said. “Toward the end of the year, the situation becomes more… parabolic. And historically, about nine months after halving, that is, somewhere around Thanksgiving and Christmas, we see a peak in prices before the next slump.

Yusko’s prediction matches that of Fundstrat analyst Tom Lee, who in February announced the same year-end target price. Both argued that the same two events would be the main catalysts for asset price increases: halving as a supply shock, and the introduction of U.S. Bitcoin ETFs as a demand shock.

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The halving, which is expected to take place in mid-April, will reduce the number of newly created BTC in each Bitcoin block from 6.25 BTC to 3.125 B TC. This particular halving will make Bitcoin’s annual inflation rate lower than gold, which is the only asset that still outperforms BTC as the most popular commodity ETF in the United States.

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Marek Stiller
Marek Stiller
Founder of the "Cryptocurrency for Beginners" channel on YouTube. He collaborates with Łukasz to form the Arena Trading group, while at the same time being passionate about blockchain technology. His knowledge and experience in the cryptocurrency industry help beginner investors better understand this dynamic market.
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