Beyond Halving: Expert Predicts Bitcoin To Soar Above $200,000 With Surprising Catalyst
09 Avril 2024 - 3:00AM
NEWSBTC
Global investor Dan Tapiero recently shared his optimistic outlook
for Bitcoin (BTC), suggesting that the leading cryptocurrency soars
above the $200,000 mark might be on the horizon. Tapiero, known for
his investment insights and co-founding roles in Gold Bullion
International and 10T Holdings, took to X to express this bullish
sentiment. Related Reading: Bitcoin’s Recovery Rally: Breaking
Through This Level Is Key To Bullish Momentum – Analyst Catalyst
That Could Drive Bitcoin To $200,000 According to Tapiero, a
significant macroeconomic factor is expected to drive Bitcoin’s
price to new heights, offering investors an opportunity for
substantial gains. Tapiero’s bullish stance on Bitcoin’s future
price trajectory revolves around a unique correlation he observed
in the market. Particularly, the expert highlighted concerns about
“monetary debasement” driven by a notable 60% increase in the
Treasury market over the past five years. This factor leads Tapiero
to anticipate a surge beyond $200,000 for the digital gold,
Bitcoin. While acknowledging the potential for gold to perform well
in such a scenario, Tapiero remains particularly bullish on
Bitcoin’s prospects. 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. Theme not
yet widely subscribed. Bullish #GOLD and more so when rates drop.
Vaults #Bitcoin to 200k+ 🚀 🚀 pic.twitter.com/muI1CNtN0h — Dan
Tapiero (@DTAPCAP) April 8, 2024 Bitcoin’s Recent Performance And
Analyst Insights In the past 24 hours, Bitcoin has exhibited
bullish momentum, surpassing and reclaiming the $71,000 price
level. With a 2.6% increase over the week and a 3.1% surge in the
last 24 hours, Bitcoin’s upward trajectory continues to attract
attention from investors and analysts alike. Notably, the
current price performance of the asset coincides with a notable
event: over 600 BTC of $100,000 strike call options have recently
been traded in a Block trade. This significant development, as
illuminated by Greek Live, carries a notional value of up to $45
million, with $8.5 million worth of premiums alone. Greeks Live
further reported that this occurrence has propelled the entire
market into a prolonged bullish momentum. In addition, with the
halving event on the horizon, the prospect of reaching new all-time
highs, including the milestone of $100,000, appears to be within
reach. Bitcoin broke through the $70,000 zone without warning, one
step away from a new all-time high. The rapid rise has driven all
major term IVs up significantly, with BTC Dvol now over 78%, and
market sentiment has quickly reversed to a long atmosphere. More
than 600 BTC of $100,000… pic.twitter.com/JY9QXyzGMi — Greeks.live
(@GreeksLive) April 8, 2024 Echoing Tapiero’s optimism, analyst
Michael Van De Poppe has also recently emphasized Bitcoin’s
potential for unprecedented growth. Related Reading: Bitcoin Bulls
Roar: Analysts Predict Surge To $82,000 Amid Bullish Pennant
Formation According to Van De Poppe, despite encountering
resistance, Bitcoin’s ability to break through key levels could
pave the way for a surge towards new all-time highs, with
projections reaching as high as $300,000 in the current bull run.
Featured image from Unsplash, Chart from TradingView
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