Crypto Hedge Fund Vet Says Bitcoin “Spring” is Here

Mark Yusko, the managing partner at Morgan Creek Digital, believes BTC is already in the bottoming process, and Bitcoin “spring” could already be here.

In an interview with Stansberry Research, Yusko said, “I will argue, and I’ve been arguing this for about ten days or so, and I’m not ready to absolutely call the bottom, but if you go back about a week ago and you watch a podcast I did… I said ‘You know what look, we made three higher lows.’ It hit $17,500, then we went up and we fell to about $18,000-something, then we went up, and then we went down to $19,000, and then we went up, and then there was a number about $20,900, and I said if we break $20,900 we’ll have three higher lows [and] three higher highs. That’s a pretty good bull trend and maybe ‘spring’ will be here.”

Of course, Bitcoin has broken $20,900 (now trading at $23,300) and experienced a strong rally in the month of July. According to Yusko, BTC’s crypto “winter” has ended, its in the “spring” part of the cycle and has formed a base for the next big crypto “summer.”