| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Morgan Creek Capital’s founder Mark Yusko on Monday said a wave of “fear of missing out” (FOMO) is on the horizon for Bitcoin (CRYPTO: BTC).
What Happened: Speaking at Bitcoin Investor Day, Yusko pointed out that historically, Bitcoin's fair value has doubled with each halving cycle.
However, he noted a twist in the pattern due to new factors such as inscription fees from ordinals, which are likely to moderate this growth.
“Now I don't think it will double this time… I actually think we go probably to $80,000-ish,” Yusko stated.
Currently, with Bitcoin trading below this target, Yusko believes that as it approaches this new fair value, the market dynamics are set to change significantly.
Also Read: Can Floki Ride The Dogecoin Day Rally?
The trigger for the next significant price movement, according to Yusko, will be the onset of FOMO, coupled with increased institutional adoption.
He highlighted potential shifts in demand following endorsements by major financial institutions like Bank of America and Merrill Lynch.
“Once the FOMO kicks in and you get the increased adoption from the demand shift…I think all of that is going to push us to a very different price level," Yusko explained.
Despite the promising outlook from financial analysts and crypto enthusiasts, Yusko criticized the current level of public engagement with Bitcoin.
He mentioned the low search activity for Bitcoin on Google and the lack of inquiries he receives from personal connections as indicators that the general public is still largely unaware of Bitcoin's potential.
"This [conference] is an echo chamber…but the average person? My family members are not calling me yet, [but] they will," he added.
The insights provided by Yusko are particularly relevant as the cryptocurrency market continues to evolve.
His predictions come at a time when the market is digesting the effects of the halving and gauging potential catalysts for the next bull run.
The nuances of these predictions and their implications for both retail and institutional investors will be further explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
This event promises to delve into the future trajectories of cryptocurrencies like Bitcoin and discuss strategies to harness these dynamics for investment opportunities.
Read Next: Bitcoin ETF Outflows Continue For Second Straight Week
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Posted In: $BTC
