Mark Yusko on CNBC: Bitcoin could hit $30,000 before next correction

www.chepicap.com 2019-07-09 21:30
Reading time: ~2 m

Today saw American investor and hedge fund manager Mark Yusko take to CNBC's Fast Money and among other things, Bitcoin came up. Yusko made it clear he feels we are in a bull market and that Bitcoin could likely hit the $30,000 price point before the next major correction.

Bitcoin bull @MarkYusko says the cryptocurrency could hit $30,000 before the next major pullback pic.twitter.com/JHPY4cc59x

— CNBC's Fast Money (@CNBCFastMoney) July 8, 2019

The short exchange opens with the host asking Yusko where he sees Bitcoin going from here. When asked bluntly, "Are we going to reclaim old highs?" Yusko affirms "We're definitely going to reclaim old highs." This, in turn, was met with "Soon? Or eventually?" from the host. Yusko then went on to elaborate:

"Over the past year, Bitcoin is up 70, seven-zero percent. Everybody thinks it's in this bear market. Over the past 12 months, I'm sorry, nine months... it's up 70%, it's the best performing major asset class this year..."

He went on to make a prediction about where the price is going from here:

"...I think we are in the next parabolic move, that will take us probably into the $30,000 level before we get another little correction..."

After this he makes a reference to there being a "path to $100,000 by 2021," which pretty much wraps up the interview.

The dialogue is too short for Yusko to elaborate on how Bitcoin will rise, but if correct then the market is looking pretty bullish across the next two years. Whatever happens, stick right here with Chepicap for all updates!


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