Could Bitcoin Price Double From Here? It’s Easy, According to Tapiero
Macro investor and fund manager Dan Tapiero is bullish on Bitcoin (BTC) and Ethereum (ETH). Tapiero says Bitcoin could gain more than 56% from its current level, while Ethereum could gain more than 81% from its current price in the next few months.
“I think Bitcoin will be over $100,000 in the next six months, and Ethereum will probably be over $5,000. I think we have a big bull run coming,” Tapiero says.
At the time of writing, Bitcoin is trading at $63,941, while Ethereum is trading at $2,756.
“I tell people all the time: When interest rates were zero, Bitcoin was around $65,000 in 2021. Interest rates went up to 5% and it’s still there. And now Bitcoin is at the same price. When that short-term rate drops from 5% to 2.5% or 3%, Bitcoin should easily double for that reason alone. Forget about all the great on-chain developments and all the innovation in this space. If you just look at that one metric, I think there’s a reason to be super optimistic here.”
These are, to me, the broader core assets of the digital asset ecosystem,” he says. “But when I look at the broader backdrop of the traditional macro environment, I think it’s very supportive of the underlying crypto.”
Important Note: Friends, Binance has launched a 50,000$ reward event. You can now click on the AI account and score by clicking on the “Vote” option.
The event ends on August 29. You can vote every day until August 29 to benefit from 50,000$ rewards.
