Macro Investor Dan Tapiero Believes Crypto Bull Market is Just Beginning
Dan Tapiero, a prominent macro investor and fund manager, predicts that digital assets are still in the early stages of their bull run, making a significant correction for Bitcoin (BTC) highly unlikely. In a recent video update on the Wealthion YouTube channel, Tapiero, who serves as the CEO of investment firm 10T Holdings, expressed his confidence that Bitcoin will not dip to $20,000 again. However, he did mention the possibility of a short-term correction for the leading cryptocurrency.
Tapiero believes that the current bull market is just beginning and compares it to a baseball game, stating that if we’re in the second inning, there is no need to worry about a major downturn. He suggests that only when we reach the seventh or eighth inning would there be cause for concern. Tapiero also mentions that although there may be a short-term correction due to the bullish consensus reaching 75-80%, this should not be seen as a sign of a long-term bearish trend.
Bright Future for Bitcoin and Digital Assets
Tapiero remains optimistic about the future of Bitcoin and digital assets. Despite facing numerous challenges in 2022, such as the collapse of the crypto exchange FTX, Tapiero believes that these events have already been priced into the market. He argues that markets are efficient at discounting mechanisms and that all the bad news has already been factored in.
Tapiero also highlights the positive developments in the industry, noting that companies are now thriving and overcoming difficulties that were prevalent just a few years ago. This indicates a strong foundation for future growth and stability in the crypto market.
No Major Correction Expected for Bitcoin
In terms of Bitcoin’s price action, Tapiero does not anticipate a significant correction. He emphasizes that the current price level of around $51,547 is a testament to the resilience of the cryptocurrency. Tapiero’s bullish outlook aligns with his belief that the bull market is still in its early stages and has a long way to go before reaching its peak.
Stay Informed and Engaged
If you want to stay up-to-date with the latest news and developments in the crypto space, make sure to subscribe to reliable sources and follow reputable individuals. By staying informed, you can make well-informed decisions and navigate the volatile crypto market more effectively.
Hot Take: The Bull Market Continues 🚀
According to macro investor Dan Tapiero, digital assets are currently experiencing an early-stage bull market, suggesting that a significant correction for Bitcoin is unlikely. Tapiero’s optimistic outlook is supported by his belief that we are still in the early innings of this bull run, making it too soon to worry about a major downturn.
Tapiero’s insights provide reassurance for crypto enthusiasts who may be concerned about potential price corrections. By recognizing the resilience of Bitcoin and acknowledging the positive developments in the industry, Tapiero offers a compelling argument for continued growth and stability in the crypto market.
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