Expert predicts Bitcoin price will skyrocket above $200,000 beyond halving with unexpected catalyst.
Global investor Dan Tapiero recently shared his optimistic outlook for Bitcoin (BTC), suggesting that the leading cryptocurrency could surpass the $200,000 mark in the near future.
Tapiero, known for his investment insights and co-founding roles in Gold Bullion International and 10T Holdings, expressed this bullish sentiment on X.
Catalyst That Could Drive Bitcoin To $200,000
Tapiero believes that a significant macroeconomic factor will propel Bitcoin’s price to new heights, offering investors an opportunity for substantial gains. His positive view on Bitcoin’s future price trajectory is based on a unique correlation he observed in the market.
He pointed out concerns about “monetary debasement” driven by a significant 60% increase in the Treasury market over the past five years. This leads Tapiero to anticipate a surge beyond $200,000 for Bitcoin. While he acknowledges 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 a 60% Treasury market increase in the past 5 years.
Theme not yet widely subscribed.
Bullish #GOLD and more so when rates drop.
Vaults #Bitcoin to 200k+
🚀 🚀 pic.com/muI1CNtN0h
— Dan Tapiero (@DTAPCAP) April 8, 2024
Bitcoin’s Recent Performance And Analyst Insights
In the past 24 hours, Bitcoin has shown 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 trend continues to attract attention from investors and analysts.
BTC price is moving sideways on the 4-hour chart. Source: BTC/USDT on TradingView.com
The current price performance of Bitcoin coincides with a significant event: over 600 BTC of $100,000 strike call options have been traded in a Block trade. This event, highlighted by Greeks Live, has a notional value of up to $45 million, with premiums worth $8.5 million.
Greeks Live further reported that this event has fueled a prolonged bullish momentum in the market. With the halving event approaching, the possibility of reaching new all-time highs, including $100,000, seems attainable.
Bitcoin broke through the $70,000 zone unexpectedly, one step away from a new all-time high.
The rapid rise has driven IVs significantly higher, with BTC Dvol now over 78%, and market sentiment has quickly turned bullish.
Over 600 BTC of $100,000… pic.com/JY9QXyzGMi
— Greeks.live (@GreeksLive) April 8, 2024
Supporting Tapiero’s optimism, analyst Michael Van De Poppe has also highlighted Bitcoin’s potential for significant growth.
Van De Poppe believes that despite facing resistance, Bitcoin’s ability to break key levels could lead to a surge towards new all-time highs, with projections reaching up to $300,000 in the current bull run.
Featured image from Unsplash, Chart from TradingView
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#Halving #Expert #Predicts #Bitcoin #Soar #Surprising #Catalyst
