Macro market expert and crypto fund manager Dan Tapiero predicts that Bitcoin, the leader of the cryptocurrency world, will experience a significant rise in 2024. elaborated. Tapiero claims that after Bitcoin’s launch in 2023, next year will also be full of huge gains for this crypto asset. Based on his analysis, focusing on Bitcoin’s past performance and current situation, Tapiero believes that 2024 will be an important turning point in the crypto world.
Evaluating the reasons behind Bitcoin’s impressive performance in 2023, Tapiero expects this momentum to continue. While Bitcoin attracts attention with an increase of up to 160% since the beginning of the year, it is approaching its historical peaks towards the end of the year. Tapiero argues that this rise is not just a wind in the past, but on the contrary, Bitcoin will gain great momentum in 2024.
“What’s not clear about this? Bitcoin is up 160% since the beginning of the year and is approaching its highest level at the close of the year. The clear track record suggests a big rally in 2024. It’s impossible for institutional investors to ignore the greatest return-generating asset of all time. 0% investment will create career risk.”
He also believes that the precious metal gold is forming a bullish price pattern and that Federal Interest rates will soon fall, supporting gold along with Bitcoin and Ethereum (ETH).
“Gold looks ready to explode. (…) Interest rates are collapsing and USD diversification is likely in play. Target $2,300-2,500. “I expect an increase for Bitcoin and ETH.”
NEWS CONTINUES BELOW
Tapiero also shared a chart from former Goldman Sachs executive Raoul Pal showing that increased global liquidity could cause Bitcoin to surpass $200,000 next year. He made the following comment on the subject:
“The world is not ready for this picture. [Pal] continues its excellent work with its monthly GMI (Global Macro Investor) report. A $200,000 Bitcoin in 2024 signals real and imminent change in the world. (…) Money and value are being redefined.”
Tapiero has previously said that a $100,000 value for Bitcoin is a “pretty conservative estimate,” predicting that BTC will be worth between $250,000 and $350,000 by 2029.
Finally, Bitcoin is trading at $43,627 at press time.
You can follow the current price movement here.