1 year ago
The anticipation of the adjacent Bitcoin halving volition spark a crypto rally successful 2023 careless of the grim macroeconomic picture, according to hedge money manager Mark Yusko.
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The anticipation of the adjacent Bitcoin (BTC) halving volition beryllium the main catalyst that sparks a caller crypto rally arsenic soon arsenic the 2nd 4th of 2023, according to hedge money manager Mark Yusko.
The halving mechanism, which reduces Bitcoin’s artifact rewards by fractional each 4 years, has historically been a large catalyst for crypto rallies. The adjacent halving is expected to hap successful aboriginal 2024.
“Usually the marketplace volition expect that by astir 9 months,” Yusko said successful a caller interrogation with Cointelegraph.
According to the hedge money manager, the halving volition propel Bitcoin to $100,000, and perchance beyond, “by the laws of math.”
“If the artifact rewards get chopped successful fractional to 3.125 from 6.25, past the terms has got to double-ish successful bid for the miners to proceed to marque money,” helium stated.
Yusko thinks the rally is going to instrumentality spot contempt an unfavorable macroeconomic representation dominated by precocious involvement rates and dilatory growth.
That is because, according to Yusko, integer assets volition yet beryllium to beryllium uncorrelated with equity markets.
“Traditional assets are driven by economical growth, Fed policies, inflation. Crypto is driven by the exertion itself, millennial adoption,” explained Yusko.
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