As we entered the second half of 2018, we are constantly seeing and hearing optimistic statements about the price of Bitcoin. According to one hedge fund manager named Mark Yusko, Bitcoin is on a good way to reaching an all-time high in 2018.
Yusko is confident that this is the real potential that Bitcoin has – and how the flagship cryptocurrency could crack the six-figure threshold in more than half a decade.
The news came from Yusko’s Twitter account in which he said that he is sticking by his year-end price target of $25,000. Yusko said that he expects Bitcoin to march to $75,000 by 2020, $200,000 by 2022 and ultimately $500,000 by the end of 2024.
My view from April is unchanged. The #NetworkEffect of #Bitcoin is powerful and all that matters today is securing ownership of the Network, the daily price is just noise… #BuyAndHODL 🚀 https://t.co/FvnIi4jrX1
— Mark W. Yusko (@MarkYusko) July 26, 2018
Last October, Yusko said that the Bitcoin price could hit $1 million per coin one day, but also stated that he doesn’t expect BTC to hit this milestone for at least a decade.
The recent predictions by Yusko make him one of the most optimistic bulls of Bitcoin. However, he is also confident that his targets are justified due to the power of the “network effect” which is a theory that a communications network becomes increasingly valuable as it welcomes more users.
Currently, Bitcoin is fighting its way back above $8,000 and spent the majority of the weekend trading over that mark. Commenting on the recent Bitcoin price movements, Yusko said that this is “just noise” because according to him, “all that matters is securing ownership of the Bitcoin network.”
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