Expert Predicts Bitcoin To Soar Above $200,000 With Surprising Catalyst

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.

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.

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.

Bitcoin (BTC) price chart on TradingView
BTC price is moving sideways on the 4-hour chart. Source: BTC/USDT on

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.

Echoing Tapiero’s optimism, analyst Michael Van De Poppe has also recently emphasized Bitcoin’s potential for unprecedented growth.

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

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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