Macro investor and fund manager Dan Tapiero says crypto assets are in the early stages of a bull run and Bitcoin He stated that the probability of a major correction for (BTC) is quite low.
In a recent video update shared on the Wealthion YouTube channel, Tapiero, CEO of investment firm 10T Holdings, tells host and SkyBridge Capital founder Anthony Scaramucci that he does not expect the crypto king to fall back to $20,000 levels.
However, he does not rule out the possibility of a short-term correction for the largest crypto asset by market cap.
“Do you think Bitcoin will fall lower to $20,000 or $18,000?” Answering the question, the CEO commented, “I don’t think so.”
“In this bull market, which is currently in its second stage, I think we don’t really have anything to worry about. “However, with the market consensus seeing a 75%-80% upside, perhaps this is just a short-term correction.”
In fact, this bull run is just beginning.
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Bitcoin is currently trading at $51,547, down slightly over the last 24 hours.
According to Tapiero, Bitcoin and other scenarios are likely to come true as almost all negative scenarios for the industry come true, such as a multibillion-dollar crash of crypto exchange FTX in 2022. cryptocurrencyThe future looks quite bright.
“Markets are already pricing mechanisms and I think all the bad news that could happen in 2022 has happened. We experienced a very significant decline in the last quarter of 2022.
Do I believe in the possibility of another FTX-style crash? No. “I see a lot of positive developments coming from companies and no one who has difficulties is having difficulties anymore – we couldn’t see this three years ago or two years ago.”
