In accordance with Mark Yusko, CIO and founding father of Morgan Creek Capital, BlackRock’s software for a bitcoin ETF has ushered in a brand new crypto bull market that may flip parabolic sooner or later nearer to the halving scheduled for April 2024.

“Primarily based on the Metcalf’s Regulation mannequin, the honest worth of bitcoin is roughly $55K. So I feel we’re trending upward towards that degree”, Yusko stated in a current interview with Cointelegraph.

After that, predicts Yusko, speculators will hit the market en masse and push the value of bitcoin past its honest worth to new all-time highs.

“We are going to in all probability have a speculative blow to the highest someday in 2024. It will result in the following recession and the following crypto winter,” Yusko predicted.

Yusko is assured that BlackRock’s bitcoin ETF software can be permitted by the SEC, thus changing into one of many catalysts for the following parabolic bull run.

“I feel it’s a carried out deal. I feel it is a settlement over time. They’re simply ready for the proper time,” he stated whereas commenting on the appliance.

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