The chief executive of investment firm 10T Holdings says that Bitcoin (BTC) could skyrocket by over 200% this year.
In a new post on the social media platform X, venture capitalist Dan Tapiero says the flagship digital asset could appreciate to between $150,000 and $200,000 this year, a gain of roughly 153% to 237% from its current price.
According to Tapiero, once Bitcoin rises above $70,000 – which is slightly above its all-time high set in November 2022 – the crypto king will quickly skyrocket to $90,000.
“Bitcoin up almost 100% in five months and not feeling frothy. Doubters still everywhere. X [social media platform] even a bit sedate.
US short rates [are] still 5%! US dollar [is] strong. BTC – shocking acceleration up feels imminent.”
Bitcoin is trading for $61,412 at time of writing, a 7.5% increase during the last day.
Amid the rally that has seen Bitcoin appreciate by approximately 50% from its 2024 low of around $39,505 reached last month, Tapiero says the stock of crypto exchange Coinbase (COIN) could reach a price tag of $400.
“Loved this chart at $50, at $60, at $80 at $100…
Now [around] $190 and looks like it will head up to $400. Rare that a chart still looks so phenomenal after such a big run.
Coinbase doing an excellent job diversifying revenue streams.”
COIN is trading for $200.96 at time of writing.
Last week, Tapiero said that he believes that the Bitcoin bull market is in an early phase.
“I think we’re in the second inning of this bull market, so I’d be much more concerned and think that there [could be] problems potentially if I felt we were in the seventh inning, the eighth inning.
The bullish consensus at 75%-80% – I mean that’s an issue but maybe [it] just means you have a short-term correction. We’re just getting started here.”
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- Source: https://dailyhodl.com/2024/02/29/venture-capitalist-dan-tapiero-predicts-bitcoin-will-explode-by-up-to-237-this-year-heres-his-outlook/
