dailyhodl.com
22 March 2024 19:05, UTC
Macro investor and fund manager Dan Tapiero believes the bull market cycle for Bitcoin ($BTC) is still in its early stages.
The CEO of investment firm 10T Holdings tells his 114,500 followers on the social media platform X that Bitcoin could soar 3x from its current value in the next year or two.
“Conservative again on $BTC price. A mere 3x over next 12-24 months. Bull market just in its third inning now.”
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Since there are nine innings in a baseball game, he suggests Bitcoin’s upward momentum will continue for a while. He also says there may be price volatility, but investors should “hold on for dear life” (HODL), a term used to encourage crypto investors not to sell when prices dip.
“Third inning of this Bitcoin bull market…at least 12-24 months to go in this up-cycle. Ignore short term wiggles. It’s hodl season.”
Last month, the investor said Bitcoin’s bull market was in the second inning.
“I think we’re in the second inning of this bull market, so I’d be much more concerned and think that there [could be] problems potentially if I felt we were in the seventh inning, the eighth inning. The bullish consensus at 75%-80% – I mean that’s an issue but maybe [it] just means you have a short-term correction. We’re just getting started here.”
The investor previously said Bitcoin could soar to somewhere between $150,000 and $200,000 this year. And while he thinks there will be short-term Bitcoin corrections this cycle, he doesn’t envision Bitcoin ever dipping down to the $20,000 level.
“If you’re saying do I think we’re going to go back down to the $20,000, $18,000 lows in Bitcoin, I don’t see it at all.”
Bitcoin is trading for $63,665 at time of writing, down more than 4% in the last 24 hours.
Generated Image: Midjourney
