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The release of the Fed minutes during the week and Jerome Powell’s speech on Friday led to upward movements in Bitcoin and Ethereum, delighting investors. Amid these events, leading figures in the market also showed increased optimism and bullish statements. In this context, some remarks from Dan Tapiero drew attention.
Dan Tapiero’s Bitcoin and Ethereum Commentary
Dan Tapiero, known as a macro investor and fund manager, expressed an optimistic view on Bitcoin (BTC) and Ethereum (ETH).
In a recent YouTube interview, Tapiero mentioned that Bitcoin could see an increase of over 56% from its current price level, while Ethereum could experience a value increase of over 81% in the coming months. This indicated that prominent market figures adopted a bullish view after the decline at the beginning of the month.
His first statement was as follows:
I think we will be above $100,000 per Bitcoin and likely above $5,000 for Ethereum within the next six months. I believe a major bull run is coming.
According to the macro investor and fund manager, a rate cut by the Federal Reserve could positively impact Bitcoin.
When liquidity becomes abundant, which I think markets are starting to sense, this liquidity moves assets… And I keep telling people, look, when the interest rate was zero, Bitcoin was around its peak of $65,000 in 2021. Rates went up to 5%, and they are still there. And Bitcoin is currently at the same price. When this short rate goes from 5% to 2.5% or 3%, Bitcoin could easily double just from this rate alone. Forget all the countless, great developments and innovations happening on-chain and in this space. Forget all of them. If you just look at this single measure, I think there’s a reason for super bullishness here.
Evaluating the broader economic environment, Tapiero’s view was as follows:
I think we will see a rise in Bitcoin and Ethereum within the next two, three, four months. To me, these are the core assets of the digital asset ecosystem in general… but I look at this broad backdrop of traditional macro, and I think it’s very supportive for core crypto.
Current Prices of Bitcoin and Ethereum
As of the time of writing, Bitcoin is trading at $64,200, indicating a 5% increase. Over the last 7 days, BTC’s price has risen by 8.49%. This price increase has also pushed the market cap back above $1.250 trillion.
BTC’s 24-hour trading volume has surpassed $43 billion, marking an increase of over 50% after a long period.
For Ethereum, the price has exceeded $2,761 after a 3.33% increase. The 7-day price change is a positive 6.33%, while the market cap remains above $332 billion.
