Macro investor and fund manager Dan Tapiero is leaning bullish on Bitcoin (BTC) over the next couple of months.
In an interview on the Talking Tokens Podcast, Tapiero says Bitcoin could go up by around 112% from the current level during the current cycle.
“We’ll head up to, I think $180,000, which is three times the previous peak… …in 2017 the peak was $21,000. We then went three times that $60,000 in 2021. And now I think we go three times…
…I think we should within the next year or so. What is it, March now? Yeah, within the next year or so.”
Over a longer period, the macro investor and fund manager says that Bitcoin could hit a seven-figure price.
“I think we can get to $1 million on Bitcoin in 10 years. And I think it will stop there for a while. $1 million, 10 years… so that’s $20 trillion of value [total market cap].”
On the Bitcoin’s key psychological price of around $100,000, Tapiero says,
“I think a $100,000 is a number where people who have been long for a long time, from a $1, a $100, from a $1,000… where they in their mind just said, ‘if it ever gets to $100,000 I’m going to sell some. And I’m not going to necessarily sell all.’
But you can imagine if you’d owned this at $200, $500 and if you bought it in 2019 at $5,000, $6,000, $7,000 even if you bought it at $10,000, you’re like, ‘You know what, if it goes up 10 times, I’m going to buy that house, you know, that I’ve wanted to buy.’
So there’s a natural, I think, selling ceiling that will take time to digest. Now, for how long? Weeks, months, I don’t know.”
Bitcoin is trading at $84,907 at time of writing.
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