According to Mark Yusko, two main driving forces could ensure that the next big uptrend for Bitcoin and the crypto market is just a few months away.
The next bull market is coming sooner than expected, at least according to Mark Yusko, founder and managing director of Morgan Creek Capital Management. Yusko believes that the next bull run, or as he describes it, “crypto summer,” could come as early as the second quarter of the new year. He sees the US central bank’s monetary policy becoming looser again and the beginning of the pricing of the next Bitcoin halving as possible driving forces.
While, according to Yusko’s assessment, key interest rate cuts by the US central bank will probably take some time to come, the market is nevertheless anticipating the relevant developments in advance. A slowdown in key interest rate increases or a temporary suspension could therefore be interpreted as a signal of a change in strategy by the Federal Reserve (Fed). This could in turn create a certain momentum that would carry risky financial products such as cryptocurrencies upwards.
“I think it’s at least very likely that the Fed will signal to us that it has ‘raised enough,’ which the market will probably interpret as ‘we’re going to cut the key interest rate,’ which will then cause risky financial products to explode,” Yusko said Logic explained.
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“The market always prices in the halving in advance […], usually almost nine months in advance, so that would be this summer,” as Yusko calculates.