RE: Mark Yusko: Bitcoin Price “Will Hit $30K In 2019”
“Speaking in an interview with CNBC, Mark Yusko, founder, CEO and chief investment officer of Morgan Creek Capital Management, delivered a fresh bullish outlook for the cryptocurrency, as the market price hit $12,800.
Yusko is also a partner and co-founder of Morgan Creek’s digital currency spin-off, Morgan Creek Digital.
‘We’re definitely going to revisit old highs,’ he told the network’s Fast Money segment.
Bitcoin has surprised investors this week after defying expectations of a bearish retraction to continue reclaiming lost ground from previous weeks.
Investors are currently enjoying weekly gains of 30 percent, while monthly performance has now passed 61 percent.
For Yusko, however, current activity marks just the start of 2019’s Bitcoin price action. BTC, he says, will finish this round of enthusiastic growth far above its 2017 all-time highs of $20,000.
‘…I think we’re in the next parabolic move,” he continued. “That will probably take us into the $30,000 level before we get another little correction[.]’
Continuing, the investor repeated a forecast he had made during a recent webinar, arguing BTC/USD could reach $100,000 in the medium term with little effort.
‘…The path to $100,000 by 2021 is really quite easy to draw out,’ he concluded.”