According to Morgan Creek Capital Management CEO and CIO Mark Yusko, the price of Bitcoin may hit six figures in as little as a month. According to Yusko, who recently spoke on Paul Barron Network, the biggest cryptocurrency may surpass its “fair value” completely.
“What do people do when the price begins to increase? We seek momentum. Consequently, momentum followers enter the picture, which further accelerates the process, leading to what I refer to as the “Thanksgiving effect.” He clarified, “I believe that this Thanksgiving will be the greatest Thanksgiving ever.”
Yukso claims that the network value is in the higher region of $50,000.
From the low 50,000 to well over $100,000, we often double. This time, I believe, we go from the $50,000 to the $80,000 figure that is being discussed. That’s the fair value, though. Somewhere in the $80,000s will be the reasonable value. However, we will proceed with fair value,” he said.
Yusko claims that the favourable word-of-mouth around Thanksgiving will enable Bitcoin to soar higher.
According to his predictions, a parabolic move may occur between Thanksgiving and December.
According to CoinGecko statistics, the price of Bitcoin jumped to a multi-month high of $73,562 on Tuesday.
However, the cryptocurrency has since given up some gains, currently changing hands at $71,894.
Yusko previously predicted that the price of the leading cryptocurrency could potentially reach $400,000.
During a March interview with CNBC, he said that Bitcoin could reach $150,000 as soon as this year.
