Mark Yusko, Morgan Creek: “Bitcoin will cost $ 50,000- $ 100,000 by 2021”

Mark Yusko, Morgan Creek: "Bitcoin will cost $ 50,000- $ 100,000 by 2021"

Mark Yusko, Morgan Creek: "Bitcoin will cost $ 50,000- $ 100,000 by 2021"

The CEO of the investment company Morgan Creek named the reasons why the cryptocurrency cost will rise sharply in the next two years.

The cost of Bitcoin may increase 5-10 times in the next two years, says Morgan Creek CEO Mark Jusko. He argues that the first cryptocurrency will rise in price to $ 50,000- $ 100,000 due to the network effect, the emotions of investors and the number of speculators who want to enter the digital money market.

“When I think of growth in the context of Metcalf’s law (the value of the network is proportional to half the square of the number of this network, – ed.) , I find that the price can easily be in the $ 50,000- $ 100,000 area in 2020 or 2021,” declared Yusko.

He explained that he declares such a wide range because the value of the asset does not reflect the true value, and this greatly complicates the prediction. The specialist said that when the Bitcoin rate reached $ 20,000 in 2017, its real price was $ 10,000- $ 11,000, but when the cryptocurrency fell to $ 3,000, its fair value increased to $ 13,000- $ 14,000 and it became a trigger for active purchasing.

Yusko stressed that according to Metcalf’s law, now Bitcoin should cost $ 15,000- $ 17,000. At the moment, the average market price of the first cryptocurrency is $ 11,747.

 

About Shawn Morrison 266 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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