Based on its remarkable 160% year-to-date rise, Tapiero predicts that Bitcoin will experience significant growth in 2024.
Dan Tapiero, a crypto fund manager and macro expert, expressed optimism about Bitcoin’s potential in 2024. The prominent social media user and seasoned trader has predicted a meteoric rise in the value of the top cryptocurrency.
Tapiero emphasizes the outstanding rise of Bitcoin so far this year, mentioning a staggering 160% gain. Bitcoin is about to reach its high-end of the year close, and Tapiero claims that institutional investors can’t ignore it because of its obvious record as the highest-returning asset. He stresses the importance of these investors’ lack of Bitcoin knowledge, saying it could cost their careers.
Gold is establishing a bullish cup-and-handle price pattern, which might lead to a rise, according to Tapiero. He thinks the Federal Reserve will probably lower interest rates, which adds to the optimistic mood. Gold, Bitcoin, and Ethereum (ETH) may all benefit from this planned change. Given the possibility of moving away from the USD and the anticipated fall in interest rates, Tapiero establishes a target price range of $2,300 to $2,500 for gold.
Tapiero presents a chart that incorporates the analysis of former Goldman Sachs executive Raoul Pal. The data suggests that a surge in global liquidity could potentially drive Bitcoin’s price above $200,000 within the next 12 months. According to him, this graph indicates a major global shift that will redefine value and money very soon. According to Tapiero, conventional investment managers put their jobs on the line if they don’t know anything about Bitcoin.
The well-known macroeconomic expert Tapiero said in an interview that $100,000 is his cautious Bitcoin price objective. He anticipates Bitcoin to be worth between $250,000 and $350,000 by 2029. This forecast for 2019 is in line with his outlook on Bitcoin’s potential for development in the long run.
Finally, Tapiero expects a good macroeconomic climate, encouraging signs for gold, an inevitable influx of institutional investment, and Bitcoin’s outstanding year-to-date performance to support his optimistic 2024 forecast.
