Bitcoin May Retest Low $60,000s Before $100K, Mark Yusko Says 'Everyone' Should Own It

Bitcoin (CRYPTO: BTC) accumulated around 13% over the past week but veteran investor Mark Yusko sees more downside before its next major leg higher.

He predicts a potential drop into the low $60,000s before the crypto king makes a run toward $100,000.

Why A BTC Retest Below $60K?

Yusko, in an interview with Money Talks on Sep.22, pushed back against claims that Bitcoin’s four-year cycle has broken. He argued that it peaked almost precisely in line with the historical cycle.

While Bitcoin may have already bottomed, Yusko added that recent price action does not provide enough evidence to declare the correction over.

He pointed to Bitcoin becoming “super, super overbought” during its recent short squeeze, saying sharp upside moves can still resemble bear-market behavior.

“I don’t think we’re out of the woods,” Yusko noted.

Based on previous cycles, he identified early October as a potential window for the cycle bottom. However, he expects any final decline to be less severe than previous bear markets because the system carries less leverage.

Yusko Sees Bitcoin Below Fair Value

Yusko highlighted that Bitcoin’s long-term value continues to follow network adoption, citing Metcalfe’s Law as a framework for estimating its fundamental value.