The cryptocurrency market is preparing for a sharp rise — analysts have named the start date

Mark Yusko, CEO of Morgan Creek Capital, believes that the «crypto summer» is likely to begin in mid-June.

In an interview with Blockworks media, Yusko said that his previous predictions about the start of a bullish trend in the market were somewhat premature:«My birthday is April 18. I said then that cryptosummer would come, that we would get a crypto day, and that would be my birthday present. Ithink the statement was premature. Maybe it will happen on June 15.»

Jusko reminded that in 2022, the rate of the flagship cryptocurrency BTC $98,261.91 Bitcoin -0.16% Market capitalization $1.94 trillion VOL. 24 hours $2.41 billion fell from almost $ 60,000 to $ 27,000. «And, you know, I think we need good news to get a new momentum,» the Morgan Creek CEO said.

In March, Yusko complained that 80% of all bitcoins are concentrated outside the United States, and Americans own only about 20% of the main crypto asset. The businessman emphasized that even if US citizens did not invest in BTC, «it would not interfere with its daily functioning.»

Despite Yusko’s complaints, the flagship cryptocurrency is not going to lose popularity among American crypto investors. A Markets Live Pulse study commissioned by Bloomberg showed that bitcoin is among the top 3 most popular assets amid a possible US default. About 8% of the surveyed large investors and 11% of retail investors would be willing to buy BTC to protect their savings.

At the time of writing, bitcoin is trading at $ 27,331 with a market capitalization of $ 529.5 billion, up 2.14% from a day ago. Over the past 24 hours, bidders have made deals worth $ 1.18 billion.