Bitcoin Price Could Top $90,000 If It Gets Past $65,000, Says Trader Dan Tapiero in “Scary Bullish” BTC Price Prediction
Dan Tapiero says that once Bitcoin surpasses the $65,000 threshold, it could easily climb to $90,000 or higher | Credit: Hameem Sarwar, CCN.com
Key Takeaways
- Tapiero predicts Bitcoin will potentially reach $90,000 or more, reflecting a “scary bullish” outlook.
- Investor highlights a “sideways overlapping flag-type consolidation” in BTC trading pattern, suggesting a breakout.
- Despite near-term predictions, Tapiero views BTC as solid store of value capable of capturing significant global wealth.
Macro investor Dan Tapiero has says Bitcoin’s price potential is “scary bullish.”
He anticipates that once Bitcoin gets over $65,000 threshold, it could easily smash its all-time high, reaching $90,000 or even higher.
Venture Capitalist Tapiero Expects Bitcoin to Surge Beyond $90,000
Tapiero admits he doesn’t know what the exact trigger for this surge will be. However, he says that the specific catalyst is less important than the broader bullish trend he foresees for BTC.
The venture capitalist and founder of DTAP Capital, is extremely optimistic about the future of Bitcoin (BTC), describing its market prospects as “scary bullish.” He suggests that once BTC surpasses the $65,000 mark, it could swiftly escalate to $90,000 and potentially higher.
On May 14, the venture capitalist and founder of DTAP Capital pointed out the nearing completion of what he calls a “sideways overlapping flag-type consolidation” in Bitcoin’s trading pattern. While he said this could mean a breakout might be close, he also warned that “markets always surprise”.
Bitcoin May Hit $200,000 This Year Amid Bullish Trends
However, Tapiero did not stop there. He also said BTX could shoot past $200,000 this year. Tapiero tweeted a BTC’ six-month price chart which, he said, showed a trend which could, potentially, lead to a new all-time high by June.
In his update, Tapiero suggested that after reaching the $90,000 mark, BTC’s ascent might not stop there. The billionaire also encouraged his followers to consider the advice of fellow macro investor Raul Pal, saying Bitcoin holders to hand on to their BTC.
At the time of writing, BTC was trading just above $61,380, roughly $4,500 away from the breakout level Tapiero anticipates.
Last Year Was More Pessimistic, According to Tapiero
Last year, Tapiero discussed his predictions for Bitcoin’s price trajectory. Then, he was more pessimistic than now. He anticipated that the cryptocurrency could surpass $100,000 by 2025.
Tapiero based his outlook on Bitcoin’s growing appeal as a store of value. He argued that Bitcoin is well-positioned to capture a significant portion of the wealth currently invested in traditional assets such as real estate and art. Tapiero estimated that even if Bitcoin captures 5% of the total estimated global wealth of $500 trillion, it would amount to an influx of $25 trillion into its market cap.
Given Bitcoin’s limited supply, any substantial increase in its market cap would, he claimed, likely cause the price of individual units to soar.
