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 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 gold is forming a bullish cup-and-handle price pattern, and he believes that the Federal Reserve will soon lower interest rates, giving a boost to the yellow metal 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 suggests increasing global liquidity could push Bitcoin above $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 price of $100,000 per BTC is a “pretty conservative estimate” and predicted a Bitcoin value between $250,000 and $350,000 by 2029.
BTC is trading for $43,869 at time of writing, up slightly in the last 24 hours.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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