According to U.Today, Dan Tapiero, co-founder of Gold Bullion International and 10T Holdings, has shared a bullish prediction for Bitcoin's price. He suggests that the cryptocurrency's chart setup is looking 'scary bullish' and anticipates a break above the $65,000 level, potentially reaching $90,000 or higher. Tapiero believes the current sideways consolidation is nearly complete, although he has not identified a specific catalyst for the expected bull run.
Over the past 24 hours, Bitcoin's value has decreased by 3.18%, followed by a 1.29% growth. The cryptocurrency is currently trading at $61,950. Since losing the $65,000 level on May 6, Bitcoin has been attempting to recover, with two unsuccessful attempts to break through the $63,300 zone. Many expect Bitcoin to skyrocket later this year or in 2025, following the halving event in April that reduced the block reward size to 3.125 BTC. Historically, Bitcoin has always surged after each of the three previous halvings.
Another potential price catalyst is the continued purchase of Bitcoin by spot ETFs, which began their regular accumulation in January after receiving SEC approval for trading.
In related news, Robert Kiyosaki, author of the popular financial management book 'Rich Dad Poor Dad,' has also endorsed Bitcoin. He predicts a crash in the U.S. dollar due to rumors of BRICS planning to launch its own gold-backed cryptocurrency. Kiyosaki suggests that this could result in billions of U.S. dollars flowing back into the U.S., causing the dollar to crash. He recommends buying Bitcoin, gold, and silver as protection against this potential negative development.