The next year will be huge for Bitcoin, according to the latest reports. Check out the following predictions about the king coin below.
Bitcoin to explode in 2024
Dan Tapiero, a macro guru and crypto fund manager, predicts that Bitcoin (BTC) will experience a significant “up year” in 2024.
He recently shared this opinion with his 111,000 followers on the social media platform X. Tapiero expects Bitcoin to continue posting substantial gains in 2023, after its remarkable surge this year.
“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.”
According to him, gold is currently forming a bullish cup-and-handle price pattern. Additionally, he believes that the Federal Reserve will soon lower interest rates, which will give a boost to not only the yellow metal, but also to 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 suggesting 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.”
According to Tapiero, a price of $100,000 per BTC is a rather cautious prediction. He expects the value of Bitcoin to reach between $250,000 and $350,000 by 2029.
As of now, BTC is trading at $43,869, which is slightly higher than its value in the last 24 hours.
