Morgan Creek Capital founder and CEO Mark Yusko is saying that the crypto industry faces positive prospects in 2024.
In a new interview on The Dales Report, Yusko says that 2024 is “going to be an incredibly powerful” year for crypto, aided by the alignment of various factors.
“That’s kind of what we have coming into 2024. We have this celestial alignment of all the things, all the cycles. So we have the four-year cycle in Bitcoin, right? The halving happens in April, or early May, depending on the blocks. But that’s going to happen.
We’ve got this wave of liquidity that’s about to be unleashed with the approval of the [spot Bitcoin] exchange-traded fund (ETF).
We’ve got this cyclical wave of it looks like the economy is slowing therefore the Federal Reserve’s going to go back to accommodation which will devalue the dollar more, which means if we price Bitcoin in dollars, the price of Bitcoin goes up.”
According to the hedge fund veteran, the crypto industry might also benefit from a “technological wave” as a result of new talent potentially entering the space.
“We’ve got a technological wave where 650,000 people were laid off from Big Tech. That’s a lot. And it turns out, that some of them don’t have enough money to never work again. Some do, but many don’t. And turns out, some of them are like really smart. And so they are starting new companies…
Turns out the most powerful force in the universe… …is human creativity.”
I
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/SvetaZi/Natalia Siiatovskaia
The post 2024 Will Be ‘Incredibly Powerful’ for Crypto, Says Morgan Creek’s Mark Yusko – Here’s Why appeared first on The Daily Hodl.
