Claim $500Veteran Investor Shifts Bitcoin (BTC) Price Forecast From $100K To $200K
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.
Also Read: XRP Price Forecast: Analyst Sees Further Pullback, What’s Next?
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.
The US macroeconomic dynamics also looks to be in favor of having more liquidity in the crypto ecosystem, as the US Federal Reserve officials projected chances of three rate cuts in the year 2024. The CME FedWatch Tool, which tracks investor sentiment on the likelihood of Fed targeting Federal target rate at upcoming Federal Open Market Committee (FOMC) meetings, shows a nearly 90% chance that the central bank would go with unchanged target rate in the January 31, 2024 meeting.
Also Read: Ex SEC Veteran Labels Latest BAYC Theft a “Tragedy of Epic Proportions”
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Crypto Gains New Use Case as Iran Turns to Digital Assets for Weapon Sales
- Bitcoin Could Rally to $170,000 in 2026 If This Happens: CryptoQuant
- Lighter Team Under Fire After Alleged $7.18M LIT Token Dump Post-Airdrop
- Binance Market Maker Hack: Trader Rakes in $1M via Failed BROCCOLI Price Manipulation
- Breaking: UK Begins New Initiative to Crack Down on Crypto Tax Evasion
- Shiba Inu Price Eyes a 45% Rebound as Burn Rate Spikes 10,700%
- Expert Predicts Ethereum Price Rebound to $4k as BitMine, Long-Term Holders Buy
- Bitcoin Price Prediction Ahead of FOMC Minutes
- U.S. Government Shutdown Looms: These 3 Crypto Predictions Could Explode
- Grayscale Files for First U.S. Bittensor ETF: Will TAO Price Rally to $300 in January?
- Shiba Inu Price Prediction: Will SHIB Show Golden Cross Signal in 2026?
