Mark Marko, CEO of Morgan Creek Capital, believes the Bitcoin bull market is still in its early stages.
Six-Figure Bitcoin By Mid-2023
In an interview, Marko predicted that Bitcoin could reach $150,000 by mid-2023. He based this on the cryptocurrency’s network effects and the number of users and miners.
Fair Value and Speculation
According to Marko, Bitcoin’s fair value is around $75,000. However, he believes speculation and leverage could push the price past this level to $150,000.
Correction Ahead
Despite his bullish outlook, Marko warned of a potential correction in the crypto market before a new all-time high. He cited the upcoming halving and other factors that could trigger a sell-off.
Bitcoin’s Current Price
At the time of writing, Bitcoin was trading at $52,018.
