Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-predicted-to-soar-to-six-figures-by-morgan-creek-capital-ceo">Bitcoin Predicted to Soar to Six-Figures by Morgan Creek Capital CEO</a><br></p>
<p style="text-align: justify">Mark Yusko, the CEO of Morgan Creek Capital, has expressed a strong conviction that <a href="https://en.bitcoinhaber.net/bitcoins-potential-downtrend-expert-analysis-and-market-signals">Bitcoin</a>‘s value is poised for an exponential rise in the near future. Speaking on CNBC, he highlighted the influence of the network’s growth and the anticipated halving event, which is set to reduce the rewards given to miners. Yusko’s valuation model, grounded in Metcalfe’s Law, considers the number of network participants and suggests that Bitcoin’s fair value stands at about $50,000. However, he believes that post-halving, the <a href="https://en.bitcoinhaber.net/us-senators-propose-bill-to-halt-central-bank-digital-currency-efforts">cryptocurrency</a>‘s value could surge to between $100,000 and $150,000.</p> 
<h2 id="expectations-of-a-post-halving-price-boom">Expectations of a Post-Halving Price Boom</h2> 
<p style="text-align: justify">The upcoming block reward halving, which slashes miner rewards by half, historically contributes to a decreased supply of new Bitcoin, prompting a price increase. Yusko indicated that this event might elevate Bitcoin’s fair value to $75,000 due to heightened transaction fees and scarcity. His predictions extend to a potential doubling or tripling of the current fair value, with the cryptocurrency hitting all-time highs approximately nine months after the halving.</p> 
<h2 id="foreseeing-a-record-high-by-year-s-end">Foreseeing a Record High by Year’s End</h2> 
<p style="text-align: justify">With Bitcoin trading around $70,000, the market is rife with anticipation over the effect of the upcoming halving on its value. Yusko envisions the demand for Bitcoin outstripping the dwindling supply, resulting in a substantial price climb. He anticipates the peak could occur around major holidays such as Thanksgiving or Christmas. This bullish forecast reflects a growing investor confidence in Bitcoin’s long-term prospects, with many stakeholders eyeing the halving as a potential springboard for substantial financial gains in the months ahead.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-predicted-to-soar-to-six-figures-by-morgan-creek-capital-ceo">Bitcoin Predicted to Soar to Six-Figures by Morgan Creek Capital CEO</a></h5>

Bitcoin Predicted to Soar to Six-Figures by Morgan Creek Capital CEO

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