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Dan Tapiero, a prominent macro investor and CEO of 10T Holdings, expects a significant rise in Bitcoin (BTC). According to the expert, if the largest cryptocurrency surpasses a critical threshold, it could rapidly soar to $90,000.
Watch the $65,000 Threshold
Recently sharing his latest observations with his followers on social media platform X, Tapiero indicated that Bitcoin could potentially reach all-time highs (ATHs) soon. Tapiero suggested that if Bitcoin surpasses the $65,000 level, it could quickly rise by more than 45% to reach $90,000.
Tapiero’s analysis is based on a technical formation known as a bull flag, which he describes as a short downward consolidation period following a long upward trend. The expert believes Bitcoin is on the verge of completing this formation, which typically signals a significant upward breakout. According to Tapiero, the largest cryptocurrency is almost done with its horizontal consolidation phase, and the market could soon see a significant upward move.
The expert emphasized that although the catalyst for this fluctuation is uncertain, it is not necessary to pinpoint it exactly since markets often move unexpectedly.
Tapiero predicts that the Federal Reserve (Fed) will likely lower interest rates this year due to weaknesses in the commercial real estate sector. According to the expert, there is no significant inflation in this sector, which could necessitate reducing interest rates to as low as 3%. This anticipated rate cut is another factor contributing to the bullish outlook for Bitcoin, as well as other digital assets like Ethereum (ETH) and traditional assets like gold.
Emphasis on “Hyper Growth Phase”
On the other hand, Tapiero also highlighted the rapid growth in the cryptocurrency market, describing it as entering a “hyper growth phase.” The expert noted that the growth of on-chain activities and cryptocurrencies has outpaced traditional financial assets, leading to increased interest from investors seeking higher returns. The expert expects this shift to attract more capital to the cryptocurrency market and further boost Bitcoin’s price.
At the time of writing, Bitcoin is trading at approximately $61,920, with a slight decline of about 2% in the last 24 hours. Despite this short-term dip, Tapiero’s long-term outlook remains extremely optimistic, indicating that the next significant milestone for the largest cryptocurrency could be a substantial leap towards $90,000 and beyond.
