Mark Yusko, founder, CEO, and Chief Investment Officer of Creek Capital Management, thrilled the crypto community with a bold forecast. The analyst believes that Bitcoin’s rally will bring its price to a jaw-dropping $150,000 this year. In this context, the asset manager reckons that it makes sense for investors to allocate even a modest share in their portfolios, at least 1-3%, for cryptocurrency. Mark Yusko predicts that Bitcoin is likely to boast the most investment luster among digital assets.
All in all, the flagship crypto skyrocketed by a stunning 159% in Q1 2024. In March, Bitcoin spiked to $73,000 and in early April, it slipped to $70,700, making an expected downward correction.
Interestingly, inspired by the official approval of spot Bitcoin ETFs in January 2024, Mark Yusko foresees a bullish trend in the crypto market for a decade ahead. It means that starting from January this year, the number one crypto could rally tenfold in the coming 10 years. The short-term catalyst for growth is Bitcoin’s halving, the event when a reward for mining is slashed twice, thus boosting incredible demand and a new wave of buying activity.
As soon as the halving takes place in April, the analyst anticipates an investment boom in the crypto market. As a result, Bitcoin will rise to its zenith by the year-end. So, investors will be able to yield lofty profits by Christmas before the crypto market loses steam and enters into a new bearish stage.
Apart from the bullish forecast for Bitcoin, Mark Yusko is betting on the rapid growth of Coinbase’s native token. His prediction is confirmed by the fact that Coinbase’s stock has ballooned by 321% in the last 12 months. Therefore, the expert believes in the strong performance of this popular crypto platform. From his viewpoint, Bitcoin is going to be one of the most favorite assets in investment portfolios this year.
