Dan Tapiero, a seasoned macro investor, has shared his optimistic outlook for Bitcoin (BTC) in 2024, predicting a substantial upward trend.
Bitcoin’s Projected Growth in 2024
Strong Year-to-Date Performance: Tapiero highlights Bitcoin’s remarkable growth, noting a 160% increase year-to-date and its approach towards a high year-end close.
Institutional Investment Inevitability: He emphasizes that Bitcoin’s track record as the highest-returning asset makes it impossible for institutional investors to overlook. Tapiero asserts that having zero exposure to Bitcoin could pose a career risk for these investors.
What is not clear here?#Bitcoin +160% ytd and closing in on a high for a year end close.
Clear track record suggests big up year in 2024.
Impossible for institutional investors to ignore greatest returning asset of all time.
0% exposure will pose career risk. pic.twitter.com/REDprk7y3b
— Dan Tapiero (@DTAPCAP) December 21, 2023
Gold’s Bullish Outlook and Interest Rate Speculations
Gold’s Price Pattern: Tapiero observes a bullish cup-and-handle price pattern forming in gold, suggesting an impending rally.
Federal Reserve’s Anticipated Actions: He believes that the Federal Reserve is likely to reduce interest rates, which would positively impact gold, as well as Bitcoin and Ethereum (ETH).
Price Target for Gold: Tapiero sets a target price range for gold between $2,300 and $2,500, bolstered by potential diversification away from the USD and a collapse in interest rates.
#Gold looks so so explosive.
Have said many times in past few months..
..epic rally occurring..
..no such thing as a triple top..cup and handle in play..
Interest rates collapse plus diversification out of #USD likely in play..
2300-2500 target
Bullish for #BITCOIN #Eth pic.twitter.com/0n8j8VQiJ4
— Dan Tapiero (@DTAPCAP) December 19, 2023
Global Liquidity and Bitcoin’s Potential Surge
Raoul Pal’s Chart Analysis: Tapiero shares a chart from Raoul Pal, a former Goldman Sachs executive, indicating that increasing global liquidity could propel Bitcoin above $200,000 in the coming year.
Implications of the Chart: He suggests that this chart points to a significant and imminent change in the world, redefining money and value. Tapiero reiterates that traditional money managers risk their careers by not having exposure to Bitcoin.
The world is not ready for this chart.@RaoulGMI continues his excellent work with monthly GMI report.
A 200k #Bitcoin in 2024 suggests a true and imminent change in the world.
Zero exposure will pose career risk for traditional money managers.
Money and value get redefined. pic.twitter.com/VlKD7DF5tb
— Dan Tapiero (@DTAPCAP) December 17, 2023
Previous Predictions by Tapiero
Last month, during an interview with Natalie Brunell, Tapiero said that although his conservative price target for Bitcoin is $100,000, he can see Bitcoin reaching $250,000 to $350,000 by 2029:
“My target for when I first started looking at this deeply in 2019 was always around $250,000 to $350,000 on Bitcoin. That was just a number that was to me a reasonable number to get to by 2029. So in 2019, that was sort of my thought by the end of the decade. That’s a reasonable number to get to.”
Featured Image via Pixabay
