Macro investor and fund manager Dan Tapiero has a bullish outlook on Bitcoin (BTC) for the upcoming months.
During an appearance on the Talking Tokens Podcast, Tapiero projected that Bitcoin could surge by approximately 112% from its current price in this cycle.
“I believe we’ll reach around $180,000, which would be three times the prior peak… In 2017, the pinnacle was $21,000. Then we hit three times that amount, reaching $60,000 in 2021. Now, I think we’ll see another tripling…”
“…I anticipate this will happen within the next year or so. What is it, March now? Yes, within that timeframe.”
Looking further ahead, Tapiero suggests that Bitcoin could attain a seven-figure valuation.
“I believe Bitcoin can reach $1 million in a decade. And I think it will stay around that mark for a while. $1 million in 10 years equates to a total market cap of $20 trillion.”
Regarding Bitcoin’s significant psychological threshold of roughly $100,000, Tapiero stated,
“I think $100,000 is a benchmark for those who have been holding for a long time, whether they bought in at $1, $100, or $1,000… Many people likely think, ‘If it ever hits $100,000, I might sell a portion, but not all.’”
“Consider those who bought in at $200, $500, or even during 2019 at $5,000, $6,000, or $7,000. Even if they purchased at $10,000, they might think, ‘If this goes up tenfold, I can finally buy that house I’ve been dreaming of.’”
“Thus, I believe there’s a natural selling pressure that will take time to absorb. How long? Weeks or months, that’s uncertain.”
As of this moment, Bitcoin is trading at $84,907.
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Disclaimer: The opinions expressed at The Daily Hodl do not constitute investment advice. Investors should conduct their own research before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets. Be aware that transactions and trades are undertaken at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it serve as an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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