Mark Yusko, the founder and CEO of cryptocurrency hedge fund Morgan Creek Digital, believes that the digital currency market will soon experience a surge. In a recent interview with Blockworks Macro, Yusko points out that his earlier prediction of a bullish market for digital currencies this month was a bit premature, and he now expects the “Summer of Digital Currencies” to begin in mid-June.
According to Yusko, Bitcoin (BTC) is currently in a position that could enable it to achieve a significant breakthrough as it shows a technical pattern of reversal.
The deterioration of many regional banks this year, in Yusko’s opinion, is part of the chaos in the sector, paving the way for the adoption of central bank digital currency (CBDC).
Yusko sees this tension in the banking sector as possibly part of a plan to create fear in the banking system, with the aim of facilitating acceptance of the proposed central bank digital currency. Despite these developments, the value of Bitcoin has increased significantly instead of decreasing as expected.