Bitcoin (BTC) Will Hit $500,000 In 6 years According To Mark Yusko

Bitcoin has had a bad 2018 having lost more than half of its value. However, with the year already in its second half hedge fund manager Mark Yusko still believes that Bitcoin will have a new all-time high before the year ends.

Yusko who is the founder of Morgan Creek Capital Management based in North Carolina said in his twitter account that the price of Bitcoin will still strike his target of $25,000 before the end of 2018. In April, Yusko predicted that Bitcoin would hit the $75,000 mark before 2020. He added that the price would then rise to $200,000 by 2022 and then move to $500,000 before 2024.

Yusko has been predicting the prices of Bitcoin for a long time. In October 2017, he predicted that the price would hit $1 million even though he added that that would take more than a decade to achieve. These predictions have made Mark Yusko become one of the most optimistic Bitcoin bulls. The investor has been saying that his targets are achievable because of the power of Bitcoin and blockchain.

SEC Rejects Bitcoin ETFs

The last two weeks have been good for Bitcoin investors even though the price went down slightly after SEC denied efforts by Winklevoss twins to have Bitcoin ETFs. It was noted that the decision by the SEC was not final of cryptocurrency ETFs. Therefore the drop did not last long and it soon rose again above the $8,000 mark, though it has no dropped down to the mid $7,000’s.

Yusko on the current price fluctuations noted that the prices does not matter at the moment. He added that what matters at the moment is making sure you own the Bitcoin network. Yusko added that neither he nor his hedge fund has ever sold any investment. He added that the crypto markets are for the future adding that the sector will reward investors who will be patient. The Bitcoin market is growing but for more people to come on board the market needs to stabilize.

A recent poll conducted in the United States indicated that only 2% of the population in the country have invested in Bitcoin. The report added that about 56% do not trust the markets because of the volatile nature. Bitcoin is already being used as a means of payment by many companies and that number can increase if the sector stabilizes.