Experienced investor Dan Tapiero suggested that the world is not ready for Bitcoin‘s predicted $200,000 price for the year 2024 and envisioned that the leading cryptocurrency could reach the $100,000 range in the upcoming bull run.
Commenting on Raoul Pal’s monthly report, Tapiero stated that the scenario of Bitcoin’s price reaching $200,000 in 2024 signifies a real and imminent global change. He mentioned that having zero exposure for traditional fund managers could pose a career risk.
Although Raoul Pal warned that liquidity forecasts might seem “overly optimistic,” he reiterated that the general market sentiment and the $200,000 target prediction are in the right direction. Tapiero had previously forecasted the next bull run for 2025, predicting a $100,000 range for the cryptocurrency.
The majority anticipates that a bull run could begin in the early months of 2024 if the U.S. Securities and Exchange Commission (SEC) approves spot Bitcoin ETF applications from financial giants like Blackrock and Fidelity. The next deadline for the decision is January 10, 2024. Historical data shows that the Bitcoin Halving event, which triggers price increases, is scheduled for the second quarter of 2024.
In summary, Dan Tapiero believes that the world is not ready for Bitcoin’s $200,000 prediction for 2024, but a bull run to $100,000 is possible. Tapiero, who cautions about Raoul Pal’s liquidity forecasts, notes that the general market expectation revolves around the SEC’s approval of spot Bitcoin ETF applications and the Bitcoin Halving event in the early months of 2024, which could initiate a bull run.