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Macro guru and veteran investor Dan Tapiero mentioned “the world is not ready” for a Bitcoin (BTC) Price forecast of $200,000 in 2024, after having lately predicted a $100,000 vary for the highest cryptocurrency within the subsequent bull run.

Also Read: XRP Price Forecast: Analyst Sees Further Pullback, What’s Next?

BTC At $200K?

Dan Tapiero commented on the month-to-month report by Raoul Pal stating that the world will not be prepared for a state of affairs wherein BTC worth reaches $200,000 in 2024. Pal’s report projected a 20% 12 months on 12 months improve in liquidity within the Bitcoin market, thereby foreseeing a goal of $218,000 in May 2024. Tapiero said,

“A 200k Bitcoin in 2024 suggests a true and imminent change in the world. Zero exposure will pose career risk for traditional money managers.”

However, Raol Pal warned that the forecast appears “far too optimistic” with regards to projections on liquidity. Yet, he reiterated the general sentiment within the BTC market, stating that the prediction for $200,000 goal “should be directionally right.” Earlier, CoinGape reported Tapiero’s prediction of a conservative $100,000 vary for the cryptocurrency within the subsequent bull run in 2025.

Fundamentals To Support Bitcoin Bull Run

A majority of the crypto market is anticipating the onset of the bull run within the first few months of 2024 if and when the U.S. Securities and Exchange Commission (SEC) approves the spot Bitcoin ETF functions filed by monetary giants like Blackrock and Fidelity. The subsequent deadline for a call on this regard falls on January 10, 2024. In addition, the Bitcoin Halving occasion, which is traditionally identified for a worth surge for BTC, is scheduled for the second quarter of 2024.

Also Read: Ex SEC Veteran Labels Latest BAYC Theft a “Tragedy of Epic Proportions”

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Anvesh experiences main crypto updates round U.S. regulation and market transferring developments. Published over 1,200 articles to date on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or twitter.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

The introduced content material could embrace the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability to your private monetary loss.