Macro guru and experienced investor Dan Tapiero has suggested that the world is not ready for Bitcoin‘s (BTC) price prediction for 2024. He also predicted that the leading cryptocurrency could reach the $100,000 range during the next bull run in the near future.
BTC’s $200,000 Prediction
Dan Tapiero, commenting on Raoul Pal’s monthly report, stated that the world is not ready for a scenario where BTC’s price reaches $200,000 in 2024. Raoul Pal’s report forecasted an annual liquidity increase of 20% in the Bitcoin market. Tapiero made the following statement:
In 2024, a $200,000 Bitcoin indicates a real and imminent change in the world. Zero exposure will pose a career risk for traditional money managers.
However, Raoul Pal warned that liquidity forecasts might seem “overly optimistic”. Nonetheless, he reiterated the general sentiment in the BTC market and stated that the $200,000 target prediction should be in the right direction. Tapiero had previously communicated his forecast for the next bull run in 2025, predicting a $100,000 range for the cryptocurrency.
Factors Influencing Bitcoin Prices
The majority of the cryptocurrency market anticipates that the start of a bull run could occur 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 such a decision falls on January 10, 2024. Moreover, the historical data suggests that the Bitcoin Halving event, known for triggering price increases, is planned for the second quarter of 2024.
In conclusion, macro guru Dan Tapiero suggests that the world is not ready for Bitcoin’s $200,000 prediction for 2024, but he believes a $100,000 bull run is possible. While he cautions about Raoul Pal’s liquidity forecasts, Tapiero indicates that the general market expectation is for the SEC to approve spot Bitcoin ETF applications and for the Bitcoin Halving event in the early months of 2024 to initiate a bull run.
