Morgan Creek CEO Announces Date of Bitcoin's Next Rally Round
This Morgan Creek executive believes that the Bitcoin (BTC) bullish trend will await the next block reward halving, although the market is seeing some technical bounces within the meantime.
Bear and Bull Season: Spring Before Summer
within the short term, Mark Yusko still has doubts that the worth of Bitcoin has reached the bottom of this cycle. the worth of the cryptocurrency fell below $18,000 in June. it's since regained basic support.
However, the markets remain cautious and await a breakout of a serious short-term resistance area, to verify the start of a technical recovery that could bring the bitcoin price back to levels near $30K.
Mark Yusko also, of course, expects a long-term uptrend during a couple of years, but he still expects minor upward corrections within the short term. The coded winter is additionally expected to end before these two years. Crypto spring is coming much sooner, but bulls and warm summer weather won't be back within the markets until 2024.
Bear and Pre-Bear Markets: A One-Year Advance Race
The founding father of XOR Strategy, Aurélien Ohayon, recently shared a chart on Twitter, to point out that Bitcoin is about to enter pre-bullet territory, thus exiting a market .
The long-term outlook from this chart is more optimistic than Mark Yusko's forecast. Bitcoin price will enter bull territory after mid-2023, to succeed in the new six-digit ATH for the next bullish cycle, after mid-2024.
Before the bitcoin price returned to around $20,000, forecasts insisted on an imminent rise within the cryptocurrency's price to $100,000. Mark Yusko's outlook is conservative as long as the next halving will be the launch of the next bullish trajectory. But history isn't always an eternal recurrence.
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