Veteran Investor Shifts Bitcoin (BTC) Price Forecast From $100K

Macro guru and veteran investor Dan Tapiero said “the world is not ready” for a Bitcoin (BTC) Price forecast of $200,000 in 2024, after having recently predicted a $100,000 range for the top cryptocurrency in the next bull run.

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BTC At $200K?

Dan Tapiero commented on the monthly report by Raoul Pal stating that the world is not ready for a scenario in which BTC price reaches $200,000 in 2024. Pal’s report projected a 20% year on year increase in liquidity in the Bitcoin market, thereby foreseeing a target of $218,000 in May 2024. Tapiero said,

“A 200k Bitcoin in 2024 suggests a true and imminent change in the world. Zero exposure will pose career risk for traditional money managers.”

However, Raol Pal warned that the forecast looks “far too optimistic” when it comes to projections on liquidity. Yet, he reiterated the overall sentiment in the BTC market, stating that the prediction for $200,000 target “should be directionally right.” Earlier, CoinGape reported Tapiero’s prediction of a conservative $100,000 range for the cryptocurrency in the next bull run in 2025.

Fundamentals To Support Bitcoin Bull Run

A majority of the crypto market is anticipating the onset of the bull run in the first few months of 2024 if and when the U.S. Securities and Exchange Commission (SEC) approves the spot Bitcoin ETF applications filed by financial giants like Blackrock and Fidelity. The next deadline for a decision in this regard falls on January 10, 2024. In addition, the Bitcoin Halving event, which is historically known for a price surge for BTC, is scheduled for the second quarter of 2024.

Also Read: Ex SEC Veteran Labels Latest BAYC Theft a “Tragedy of Epic Proportions”

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Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1,200 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at [email protected] or twitter.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.