Mark Yusko, founder and CEO of Morgan Creek Capital, said the cryptocurrency industry has a positive outlook for 2024.
In a new interview with The Dales Report, Yusko said 2024 will be an “incredibly strong” year for cryptocurrencies thanks to a combination of factors.
“It will happen again in 2024. We have a heavenly alignment for everything, for every cycle. Then Bitcoin has a 4-year cycle. Yes? Halving occurs in April or early May, depending on the block. But it will happen.
We are facing a wave of liquidity that will soon be triggered by the approval of (spot Bitcoin) exchange traded funds (ETFs).
There will be a cyclical wave in which the economy appears to be slowing, causing the Fed to return to accommodative measures that will further depress the value of the dollar. In other words, if you price Bitcoin in dollars, the price of Bitcoin goes up.”
The cryptocurrency industry could potentially benefit from a “technological wave” as new talent enters the space, according to a hedge fund veteran.
“There is a technological wave happening where 650,000 people will be laid off from Big Tech. That’s a lot. And it turns out that some of them don’t have enough money to ever work again. Some do, but many don’t. And it turns out that some of them are really smart. So they are starting a new company…
The most powerful force in the universe is… It turns out it’s human creativity.”
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Featured image: Shutterstock/SvetaZi/Natalia Siiatovskaia