Prominent global investor Dan Tapiero has published a bullish Bitcoin tweet, sharing his take on how BTC could easily surpass the $200,000 price level in the near future. An important macroeconomic factor is to play its role here, the expert believes.
“Bitcoin vaults to $200,000+”
Vocal investor and Bitcoin supporter Dan Tapiero, who is also co-founded of Gold Bullion International and 10T Holdings, has taken to the Twitter/X social media platform to share a major reason that he expects to drive Bitcoin above the $200k barrier.
Most remarkable macro correlation break I’ve seen in some time.
Suggests extreme concern about monetary debasement driven by 60% Treasury mkt increase past 5yrs.
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Bullish #GOLD and more so when rates drop.
Vaults #Bitcoin to 200k+
🚀 🚀 pic.twitter.com/muI1CNtN0h— Dan Tapiero (@DTAPCAP) April 8, 2024
It has nothing to do with the upcoming Bitcoin halving, according to his tweet. However, whenever other experts have mentioned the same argument before, predicting Bitcoin to surge, the fact of Bitcoin’s unique scarcity as an asset was meant without being named. And halvings only make the world’s leading digital currency even more scarce than it is already.
Tapiero tweeted that has spotted the “most remarkable correlation” that he has witnessed in the market for some time recently. The thing he has noted suggests there may be “extreme concern about monetary debasement driven by 60% Treasury market increase” over the past five years among investors.
The expert said he is bullish on gold over this and will be even more bullish once the US Fed Reserve begins cutting the interest rates down. As for digital gold Bitcoin, Tapiero said that the current state of monetary debasement is likely to push BTC to the $200,000 level and higher.
Bitcoin regains $72,600
Earlier today, Bitcoin made an effort to surge and succeeded in recapturing the $72,000 price level. The pioneer cryptocurrency managed to go as high as $72,600 zone before it was pushed back down. At the time of writing this article, BTC is changing hands at $72,280.
Cryptocurrency analyst and trader Ali Martinez, whose charts are popular on Twitter/X, published a tweet earlier today to say that Bitcoin was breaking out. He reckons that if the cryptocurrency manages to stay above the $70,800 price tag, it will be able to go for the next target of $85,000.
#Bitcoin appears to be breaking out! If $BTC can hold above $70,800, the next target becomes $85,000! pic.twitter.com/JPLf18KZvt
— Ali (@ali_charts) April 8, 2024
Currently everyone is counting days left before the fourth Bitcoin halving takes off in two weeks. Miner rewards will reduce by half from 6.25 BTC to 3.125 BTC per every new block.
