Macro guru and crypto fund manager Dan Tapiero is predicting that Bitcoin (BTC) will have a big “up year” in 2024.
Tapiero tells his 111,000 followers on the social media platform X that the top-performing asset Bitcoin will likely continue to post big gains next year after soaring in 2023.
“What is not clear here? Bitcoin +160% year-to-date and closing in on a high for a year-end close. Clear track record suggests a big up year in 2024. Impossible for institutional investors to ignore the greatest returning asset of all time. 0% exposure will pose career risk.”
He also says that the precious metal gold is forming a bullish cup-and-handle price pattern, and he believes that Federal Interest rates will soon be lowered, giving a boost to gold along with Bitcoin and Ethereum (ETH).
“Gold looks so explosive. Have said many times in the 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. $2,300-$2,500 target.
Bullish for Bitcoin, ETH.”
The venture capitalist shares a chart from former Goldman Sachs executive Raoul Pal that shows increasing global liquidity could cause Bitcoin to cross $200,000 next year.
“The world is not ready for this chart. [Pal] continues his excellent work with monthly GMI (Global Macro Investor) report. A $200,000 Bitcoin in 2024 suggests a true and imminent change in the world. Zero exposure will pose a career risk for traditional money managers. Money and value get redefined.”
Tapiero previously said that a value of $100,000 for Bitcoin is a “pretty conservative estimate” and predicted a BTC value between $250,000 and $350,000 by 2029.
Bitcoin is trading for $43,869 at time of writing, up slightly in the last 24 hours.
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The post Venture Capitalist Dan Tapiero Says 2024 Will Be a Big ‘Up Year’ for Bitcoin – Here’s Why appeared first on The Daily Hodl.
