Yusko Sees Bitcoin Bottoming Out at $58,000 or Lower
Mark Yusko, CIO of Morgan Creek Capital Management, has made a prediction about Bitcoin's (BTC) bottom. He believes that the cryptocurrency is currently in an overbought zone within a bear market and could fall to around $58,000 in the short term.
Speaking on the Crypto Banter podcast, Yusko stated that after Bitcoin's recent recovery, the market has entered an 'overbought' zone. He warned that the upward movement does not yet indicate the end of the bear market. Yusko predicted that Bitcoin could reach the bottom of the cycle approximately 364 days after its previous peak, around October 5, 2026.
Yusko also stated that taking into account indicators such as Metcalfe's Law, user count, and trading volume, Bitcoin's value is $105,000. However, he cautioned that it's possible for Bitcoin to fall to around $60,000 in the short term or even as low as $58,000.
Yusko concluded by stating that Bitcoin's weighting in investment portfolios should also be limited, recommending allocating between 5% and 10% to Bitcoin for general investors. He made this statement while sharing his own experience with Solana (SOL), which he said returned approximately 1,000 times his early investments, although he has since sold about 90 percent of his position.