Venture capitalist Dan Tapiero says 2024 will be a big “up year” for Bitcoin – here’s why
Macro guru and crypto fund manager Dan Tapiero predicts that Bitcoin (BTC) will have a big “up year” in 2024.
Tapiero tells his 111,000 followers on social media platform
“What is not clear here? Bitcoin is up 160% year-to-date and is nearing a year-end high. The clear track record points to a big rebound year in 2024. It's impossible for institutional investors to ignore the highest-yielding asset of all time. 0% exposure poses career risk.”
Source: Dan Tapiero/X
He also says that gold is forming a bullish price pattern and he believes that the Federal Reserve will soon cut interest rates, which will give the yellow metal a boost along with Bitcoin and Ethereum (ETH).
“Gold looks so explosive. I've said many times over the last few months that when it comes to an epic rally, there's no such thing as a triple top, cup and handle in play.
Interest rates are collapsing and diversification out of the USD is likely in play. Goal: $2,300 to $2,500.
Bullish for Bitcoin, ETH.”
Source: Dan Tapiero/X
The venture capitalist shares a chart from former Goldman Sachs executive Raoul Pal that suggests increasing global liquidity could push Bitcoin past $200,000 next year.
“The world is not ready for this chart. [Pal] continues its excellent work with the monthly GMI (Global Macro Investor) report. A $200,000 Bitcoin in 2024 suggests real and impending change in the world. For traditional asset managers, zero exposure represents a career risk. Money and value are being redefined.”
Source: Dan Tapiero/X
Tapiero previously said that a price of $100,000 per BTC was a “fairly conservative estimate” and predicted a Bitcoin value of between $250,000 and $350,000 by 2029.
At the time of writing, BTC is trading at $43,869, up slightly in the last 24 hours.
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