‘Crypto summer’ likely to start in Q2 2023, Morgan Creek Capital CEO says
The following crypto bull market will begin prior to most individuals suppose, based on Mark Yusko, founder and CEO of Morgan Creek Capital Administration. Yusko thinks the following crypto bull run or, as he calls it, “the crypto summer season,” might kick off as quickly because the second quarter of this yr as a result of mixture of extra dovish central financial institution insurance policies and the anticipation of the Bitcoin (BTC) halving.
Whereas america Federal Reserve is unlikely to chop rates of interest anytime quickly, based on Yusko, the markets are likely to anticipate the Fed’s choices. Which means even a slowing down or a pause in rate of interest hikes could be interpreted because the sign of an imminent pivot. That may spark a constructive dynamic amongst all threat property, together with crypto.
“What I do suppose could be very possible is the Fed signaling that: ‘Okay, we’re good.’ However that can be interpreted as ‘we’re going to chop’ after which threat property will explode once more,” Yusko identified.
In addition to the Fed’s extra dovish insurance policies, the anticipation of the Bitcoin halving, which is because of happen within the second quarter of subsequent yr, can even drive bullish sentiment available in the market.
“The market all the time anticipates the halving […] 9 months earlier than that’s often when the start of summer season begins,” Yusko stated.
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