Mark Yusko: Bitcoin can go up to $ 30,000 without correction

[Prateek_sharma]

Mark Yusko said in an interview that Bitcoin price can go up to $ 30,000 without correction.

What's your take on this?

[figmentofmyass]

Mark Yusko said in an interview that Bitcoin price can go up to $ 30,000 without correction.

What's your take on this?

what's his definition of a "correction"? that's what i'd like to know. we just saw bitcoin fall 30% ($13.8k to $9650). that seems to fit the definition to me! there were plenty of drops like this on the way up in 2017 too.

if he's talking about the next long term bear market (like 2014 or 2018) then i think we're going way past $30k first.

[mk4]

Mark Yusko said in an interview that Bitcoin price can go up to $ 30,000 without correction.

Keyword: can

While it theoretically can happen even though I think it's quite unlikely(it's 40% from ATH), it doesn't mean it will. I personally don't think it will though. $20,000 is a huge psychological barrier as far as I know. We're most likely going to have bumps below around $19,000 before we actually break $20,000 again.

[Herbert2020]

that is pure nonsense because what you are describing only works in a pump and dump altcoin where the pumpers artificially increase the price in one go by injecting money usually from their sheep into that shitcoin and "pump" the price that high (in this case it would be 170%) and then immediately follow that up with the dump.

that is not how bitcoin works. the only way we can see $30k or 170% increase is with a solid investment just like how it has been happening all these years and that means smaller rises followed by even smaller corrections and incrementally rising until we reach that high.

not to mention that on the road to $30k even if we ignore everything else we still have the previous ATH ($20k) which will act as a big barrier where people sell and sells cause correction.

ps. don't confuse a 10% drop aka the correction with a gigantic drop of 50% to 85% which is crash and bubble burst. they are very different. and in this case even if you are misusing the word, the "bubble burst" is not going to happen on $30k, it will happen at least somewhere around $100k

[Upgrade00]

The traditional market dynamics does not favour such a price increase without any significant drop in the value on the way up. We are driven by human emotions and demand and supply hugely affects the price overtime, and in my opinion, it is unlikely we make such a jump in price without correction.

[taratorly]

Mark Yusko said in an interview that Bitcoin price can go up to $ 30,000 without correction.

What's your take on this?

Something extra positive has to emerge to make it up to $ 30,000 without correction. But when it comes to Bitcoin, anything is possible!

[Anonylz]

Question is at what price does he expect this to start happening $12, $13..... ? Lol! If btc can even go from current price to $20k without any correction will cause huge commotion in the crypto space and the world at large, and you can't imagine what the News Headlines will be
He must be confuse making such statement.

[smartbitcoininvestor]

It probably will at some point. I think there is a real possibility for another spike sometime in the future surpassing the ATH of $20,000.

[Forrest Lowe]

Bitcoin is not fully anonymous. It’s semi-anonymous. And this is why if you control the gates and control the amounts of fiat currency swapped for cryptocurrencies you can track, from that point forward bitcoin basic, the route the flow of value takes.

[jseverson]

Here are his exact words:

“…I think we’re in the next parabolic move,” he continued. “That will probably take us into the $30,000 level before we get another little correction[.]”

By correction, he probably means a significant pullback. Who knows though. Predictions like these always seem to be anchored on possibility, not probability. I didn't watch the full interview, but he didn't seem to cite any numbers to support his position.

[cheezcarls]

Mark Yusko said in an interview that Bitcoin price can go up to $ 30,000 without correction.

What's your take on this?

Yes I saw that in my Facebook feed. About my thoughts regarding his statement, I've got to be honest with you man.

I'm not a fan of Bitcoin and cryptocurrency predictions. You know why? It's because the cryptocurrency market is unpredictable. Anything can happen in an instant whether if its good or bad news, or some crypto whales pumping or dumping it any time of the day without warning.

John McAfee predicted that it would go up to a million dollars by the end of 2020, and countless others are making their own predictions. Mark Yusko is just like any other predictors out there that has no guarantee that it would happen. Deal with it.

Although I enjoyed the bull run these days, but I would not count on that fully. Just sayin'.

[kurcalas]

If Bitcoin goes up to $ 30,000 without correction, we can buy XRP for 100sats, Ethereum for 100k sats, and BNB for around 5000 sats. Dominance can go above 90%.

I can not decide if it is good.

[Vaskiy]

Surely there will be correction at the round of value, now itself we can experience the price getting into some corrective measures before crossing $15000. This way there is no possibility for growth to take power without any form of interruptions.

Whenever there is some forward push automatically there will be some form of FUD around. This will surely cause price to undergo correction at selective price barriers before reaching $30k which is an achievable price.

[btc_angela]

Mark Yusko said in an interview that Bitcoin price can go up to $ 30,000 without correction.

What's your take on this?

What? no correction? Are you kidding me? No market can sustain a parabolic growth not even bitcoin. I'm not familiar with this dude, but it seems he doesn't know a thing or two about how everything works in crypto. NO parabolic growth is sustainable, at least it needs to have a retracement in order to move on the next phase.

[kryptqnick]

Firstly, here's an article about it in case anyone's interested: https://bitcoinist.com/bitcoin-price-will-hit-30k-in-2019-bull-cycle/.
Secondly, I think this guy's generally right that Bitcoin can very well reach $30k by the end of the year and there's at least a good chance that we'll see the previous ATH. But the phrase about it being a straight bull run "before we get another little correction" - I think, he just dropped it inattentively. Surely, there will be corrections like -10% and something like that. And calling BTC dropping like 70% of its value a "little correction" doesn't sound right to me. 

[Slow death]

Mark Yusko said in an interview that Bitcoin price can go up to $ 30,000 without correction.

speaking in Mark Yusko, I will return a little to the past, precisely in NOV 11, 2017, he say:

Mark Yusko, founder and CEO of Morgan Creek Capital Management ($3.7 bln in assets under management) has not shied away from making predictions, suggesting that Bitcoin will eventually be worth $400,000.

Bitcoin $400,000 Says Investing Guru Mark Yusko

he predicted that bitcoin would reach $ 400,000; unbelievable

What's your take on this?

I do not believe that

[dothebeats]

Ahh no. It can though certainly won't without any form of corrections and setbacks along the way. Also, isn't he the same dude who said that bitcoin will continuously go on from $18k to $400k simply because people are buying bitcoins like crazy? Huh, I wouldn't really believe those predictions until something really happens right before my eyes. It's okay to be a bull if one knows what they are really talking about and their claims are backed by sensible facts, not just some random gibberish and predictions without any basis.

[arpon11]

Mark Yusko said in an interview that Bitcoin price can go up to $ 30,000 without correction.

What's your take on this?

The way bitcoin move sometime, I do think that it is possible for bitcoin to hit $30,000 without any visible corrections. However, we should also expect the opposite to happen as it can also fall from the speculated $30,000 to $1000 without any visible raly. Currently, we have seen bitcoin pushing harder with any strong resistant and if that continues then we should expect bitcoin to hit $30,000 a few weeks from now.

[deadsilent]

It can happen. But the chances are very little. If people put billions of dollars on Bitcoin all at once. Sure, it will  happen. Any market experiences market corrections. It's very rare to see that kind of pump especially for Bitcoin that hardly to even reach 15k. That leap of price is shady and more likely to be a pump and dump scheme. The price will go up 1k then correction. There's nothing wrong with correction. It's very normal.

[jakelyson]

Mark Yusko said in an interview that Bitcoin price can go up to $ 30,000 without correction.

What's your take on this?

Just another hilarious speculation. It can reach 30k in the future but doing it without correction is ridiculous. Once a new ATH is reach, always expect a dump will happen.Long time investors will cash out their profit. That will trigger a long correction.

When we reach 20k, it took one long year of correction and bear market. Imagine pumping it straight to 30 without any correction along the way, how long will be the bear market that will follow it in order to correct it? That would be frustrating.