- Dan Tapiero, commenting on Raoul Pal’s monthly report, stated that the world is not ready for a scenario where the price of BTC could reach $200,000 in 2024.
- Previously, COINOTAG reported Tapiero’s conservative prediction of a $100,000 range for the cryptocurrency in the next bull run in 2025.
- The majority of the crypto market expects a bull run to begin in the early months of 2024 if the SEC approves applications from financial giants like BlackRock and Fidelity.
Macro expert and experienced investor Dan Tapiero is adjusting his predictions for the price of Bitcoin: What do experts expect from BTC?
Expert Investor Alters Bitcoin Price Prediction
Macro expert and seasoned investor Dan Tapiero recently stated that the world is “not ready” for a scenario where the price of Bitcoin (BTC) could be $200,000 in 2024 after predicting a range of $100,000 in the next bull run recently.
Commenting on Raoul Pal’s monthly report, Dan Tapiero expressed his skepticism about the world being prepared for a scenario where the price of BTC could reach $200,000 in 2024. Pal’s report forecasts a 20% annual increase in liquidity in the Bitcoin market, predicting a target of $218,000 by May 2024. Tapiero said:
“A $200,000 Bitcoin in 2024 signals a real and imminent change. Zero exposure for traditional fund managers will pose a career risk.”
However, Raoul Pal warned that the projection seemed “too optimistic” in terms of liquidity projections. Nevertheless, he reiterated the overall sentiment in the BTC market and stated that it should be “correct directionally” for the $200,000 target. COINOTAG had previously reported Tapiero’s conservative prediction of a $100,000 range for the cryptocurrency in the next bull run in 2025.
Fundamentals Supporting the Bitcoin Bull Run
The majority of the crypto market expects a bull run to begin in the early months of 2024 if the U.S. Securities and Exchange Commission (SEC) approves applications from financial giants like BlackRock and Fidelity. The next decision date for this matter is January 10, 2024. Additionally, the Bitcoin Halving event, historically associated with a price increase for BTC, is scheduled for the second quarter of 2024.
U.S. macroeconomic dynamics also support increased liquidity in the crypto ecosystem, as officials from the U.S. Federal Reserve have predicted three interest rate cuts in 2024. CME FedWatch, which tracks investor sentiment towards the Federal Reserve’s target rate in Federal Open Market Committee (FOMC) meetings, shows an almost 90% probability of the central bank choosing an unchanged target rate at its meeting on January 31, 2024.
