Being optimistic about Bitcoin’s future, Dan Tapiero, a seasoned macro investor, believes that Bitcoin is poised for substantial upward growth in 2024, projecting a positive outlook for the digital asset.
Bitcoin’s Projected Growth in 2024
Tapiero highlights Bitcoin’s remarkable year-to-date performance, pointing out a 160% increase and anticipating a high year-end close.
He underlines that institutional investors will find it impossible to overlook Bitcoin, given its track record as the highest-returning asset. Tapiero asserts that having zero exposure to Bitcoin could pose a career risk for these investors.
Gold’s Bullish Outlook and Interest Rate Speculations
While observing a bullish cup-and-handle price pattern forming in gold, Tapiero predicts an impending rally for gold. He also anticipates that a reduction in interest rates by the Federal Reserve would impact the price of gold, Bitcoin, and Ethereum (ETH) positively.
Tapiero sets a target price range for gold between $2,300 and $2,500, bolstered by potential diversification away from the USD and a collapse in interest rates.
Global Liquidity and Bitcoin’s Potential Surge
Tapiero shares a chart from Raoul Pal, indicating that increasing global liquidity could propel Bitcoin above $200,000 next year. He believes that this chart points to a significant and imminent change in the world, redefining money and value. Traditional money managers risk their careers by not having exposure to Bitcoin, says Tapiero.
Previous Predictions by Tapiero
In a previous interview, Tapiero stated that his conservative price target for Bitcoin is $100,000, but sees the digital asset reaching $250,000 to $350,000 by 2029.
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