Coin Edition -
- Analyst Dan Tapiero says Bitcoin price would climb well over $100,000 between H2 2024 and 2025.
- According to Tapiero, Bitcoin’s price could move sideways for the rest of 2023.
- Bitcoin’s price bottomed when perceived negative developments failed to pull it down.
Bitcoin’s price could climb well over $100,000 between the second half of 2024 and 2025, says Dan Tapiero, founder of DTAP Capital. Tapiero made his prediction during a podcast with Scott Melker, the host of the YouTube channel, The Wolf Of All Streets.
According to Tapiero, Bitcoin’s price could move sideways for the rest of 2023, having established a low toward the end of last year. He pointed out that Bitcoin’s price bottomed when perceived negative developments failed to pull it down. Instead, the price continued to rise, climbing above previous resistances to trade above $31,000 at the time of writing.
Tapiero’s prediction suggests that Bitcoin’s rally toward $100,000 would happen after the next halving event scheduled for April or May 2024.
During the discussion, Tapiero observed that Bitcoin and the entire cryptocurrency space overcame several challenges in the last few years. In his opinion, instead of succumbing to them, the crypto industry grew by almost four times in the past four years. He noted the crypto market value increased from around $300 billion in 2019 to about $1.7 trillion in 2023.
Tapiero acknowledged the adoption of blockchain solutions by the likes of the state of California and Starbucks (NASDAQ:SBUX) that are using blockchain technology for different purposes. He noted such moves from non-corporate entities contribute to the crypto industry’s growth, making the technology unstoppable.
Tapiero also observed that despite criticism of NFTs by certain quarters of Bitcoin supporters, big corporations like Google (NASDAQ:GOOGL) and Apple (NASDAQ:AAPL) used the technology to support their communities. He noted cryptos moved beyond just price during the ICO era and are now laying more emphasis on use cases.
According to Tapiero, while crypto prices dropped by about 80% in 2022, the adoption of blockchain technologies reached all-time highs. He criticized the mainstream media for ignoring such positive developments in the industry to focus on the negatives, an act that he thinks is deliberate, considering the protracted negative sentiment the establishment has had toward cryptocurrency.
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