CEO of Morgan Creek Capital Management, Mark Yusko, claimed that Bitcoin would renew his record in 2018. Although more than six months have elapsed since his prediction, he remains in his position.
Mark Yusko said in his Twitter account that Bitcoin would rise to $ 25,000 by the end of the year. In April, the experienced CEO claimed that Bitcoin would rise to 75 in 2020, to 200 in 2022 and to $ 500 thousand by 2024.
Yusko said last year that Bitcoin would reach $ 1 million but did not expect it to take place in the next 10 years. Yusko said the target was quite accurate due to the "network effect" theory. The effect of networking means increasing productivity by increasing the number of people using a product.
Bitcoin fell back to $ 8,000 again on Thursday after the SEC's Vinklevoss brothers rejected Bitcoin ETF's appeal. This was a sort of doubt that investors rejected.
While the Bitcoin ETFs' expectations were affected by Bitcoin's over $ 8,000, rejection of ETFs had a negative impact on the market.
Talking about the recent price change in Bitcoin, Yusko said that these price movements are based on Bitcoin's centrism.