Mark Yusko, the founder and CEO of Morgan Creek Capital, is optimistic about the crypto industry’s prospects in the upcoming year. In a recent chat with The Dales Report, Yusko shared his belief that 2024 is poised to be “incredibly powerful” for crypto, fueled by the convergence of various factors.
Celestial Alignment of Cycles
Yusko highlighted the celestial alignment of key cycles influencing the crypto landscape. Pointing to the four-year cycle in Bitcoin, he emphasized the significance of the upcoming halving expected in April or early May. This event, he believes, is a crucial factor contributing to the positive outlook for 2024.
Moreover, Yusko anticipates a surge in liquidity with the potential approval of the spot Bitcoin exchange-traded fund (ETF). The impending wave of liquidity, combined with the cyclical nature of the economy, suggests a scenario where the Federal Reserve may resort to accommodation measures. This, in turn, could lead to a devaluation of the dollar, positively impacting the price of Bitcoin when measured in dollars.
Technological Wave and Human Creativity
Adding another dimension to his optimistic forecast, Yusko pointed to a “technological wave” that could benefit the crypto industry. He noted a significant pool of talent potentially entering the space due to layoffs in Big Tech, where 650,000 people found themselves without jobs. Recognizing the financial constraints of some, Yusko highlighted the emergence of new companies led by these individuals.
In a nod to the power of human creativity, Yusko emphasized that despite economic challenges, individuals are leveraging their intelligence and skills to start innovative ventures. He sees this as a driving force that could further propel the crypto industry forward.
In conclusion, Mark Yusko’s positive outlook for 2024 encompasses a combination of key events, cycles, and the indomitable force of human creativity shaping the crypto landscape in the coming year.