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Everyone Is Looking At This Market All Wrong | Mark Yusko



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At the time of writing, Bitcoin is trading for $23,317.94, down 1% in the past 24 hours. After the Federal Reserve announced on Wednesday that its key short-term interest rate would go up by a quarter point, which was less than the previous 0.5-point increase in December, many investors are questioning whether Bitcoin can make a push for eyeing a push for $30,000 this month. Investor Mark Yusko gave his take on what he sees coming. And while $30,000 might not be in the cards for this month, Yusko believes the bull run will happen sooner than most are anticipating. In an interview with Cointelegraph, Yusko stated that he believes that this is just a short squeeze and not the beginning of the crypto summer as the markets were getting short towards the end of the last year. He believes that the price of crypto will remain depressed as long as interest rates continue to rise. The Fed is not loosening, and China is driving liquidity around the world which could have a positive impact on the crypto market by the end of the year. Yusko believes instead of looking at the price, what investors really should be looking at is higher lows, as that is an indication of accumulation pressure in the market.
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► To watch the full interview:
https://www.youtube.com/watch?v=gKrLm5WdWf

Category
Cryptocurrencies
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