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According to hedge fund manager Mark Yusko, the halving will be the main catalyst that will trigger a new rally in cryptocurrencies as early as the second quarter of 2023.

The halving mechanism, which halves the Bitcoin block reward every four years, has historically been a major catalyst for the crypto rally. The next halving is expected to take place in early 2024.

“Typically, the market would expect this in about nine months,” Yusko said in a recent interview with Cointelegraph.

According to the hedge fund manager, the halving will take bitcoin to $100,000 and possibly higher, “according to the laws of mathematics.”

“If the block reward is halved from 6.25 to 3.125, the price must double for miners to continue making money,” he said.

Yusko believes that the rally will take place despite the unfavorable macroeconomic picture, which is dominated by high interest rates and slow growth.

This is because, according to Yusko, digital assets will end up uncorrelated with stock markets.

“Traditional assets are driven by economic growth, Fed policy, inflation. “Cryptocurrency is driven by the technology itself, the adoption of millennials,” Yusko explained.

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Source: CoinTelegraph