Morgan Creek CEO: There Will Be a Bull Market in Q2 2023
Morgan Creek CEO Mark Yusko has said that the next bull market could begin as early as the second quarter of 2023 amid favorable macroeconomic conditions and the expectation of a Bitcoin halving.
He has said that the Fed is unlikely to cut the key rate in the near future. However, even a slowdown or pause in this process will be taken as a positive signal for the cryptocurrency market.
The Fed raised the key rate range by 25 basis points on Feb. 1, to 4.5-4.75% per annum. Such a “soft” increase in the indicator was the first since March 2022, when the agency began to tighten monetary policy.
In response to the Fed’s decision, Bitcoin reacted by rising to $24,000 for the first time since August 2022.