Investor and venture capitalist Dan Tapiero says Bitcoin (BTC) rallies are around the corner again amid what he thinks is an alignment of several bullish macro factors.
Citing a recession probability indicator from the market analysis firm Bravos Research, Tapiero says that the Federal Reserve will likely add new liquidity and lower interest rates in order to stimulate the economy.
[adinserter block="1"]According to the investor, the loose monetary environment will trigger new Bitcoin rallies.
“Unlikely recession coming given Fed has room to cut interest rates – 400 basis points possible to 0 if needed…
But this indicator has never been higher and a recession not followed.
Slowing growth ahead clear, guaranteed by fiscal tightening.
Rates must drop. Liquidity needed.
BTC.”
According to Tapiero, the stock market is in for another 10% drop or so before the Federal Reserve cuts rates “regardless of coincidental data.”
In a recent interview with crypto personality Scott Melker, Tapiero forecasted a $180,000 price tag for Bitcoin.
On when Bitcoin could reach the massive price target, Tapiero says,
“I know some people have been more aggressive but I think this bull phase, we can hit that [$180,000] this year or potentially early next year. But I’m thinking more this year…
So it’s just the way markets work, right – you got 85% or 90% bulls up at $100,000 and now you’re down at, what is it? 15%? And people are despondent, they think the world is over, and yet it’s at $80,000, which is still up, you know, 2x, 3x from 18 months ago. It’s pretty, pretty incredible.”
At time of writing, Bitcoin is worth $82,924.
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