Dan Tapiero suggested that the main reason could be overcoming the “critical mark” of $65,000. Immediately after this, Bitcoin, the businessman and investor believes, could quickly grow by at least 45%. Currently, the first cryptocurrency is going through a short period of downward consolidation after a long bullish trend. According to the CEO of 10T Holdings, Bitcoin has almost completed its phase, and significant growth will soon be seen in the cryptocurrency market.
This year, the US Federal Reserve System (FRS) is likely to cut interest rates due to falling rates in the commercial real estate market, the businessman believes. There is no significant inflation in this sector of the economy that would require interest rates to be reduced to 3%. The expected reduction will be another factor that will have a positive impact on the rate of Bitcoin, Ether and even the traditional asset – gold, the head of 10T Holdings is sure.
The crypto market is entering a “hypergrowth phase,” the expert believes. Digital assets are attracting increasing interest from large investors seeking higher returns. Therefore, the movement of capital from institutional investors into the crypto market will also increase the value of Bitcoin.
Earlier, Dan Tapiero suggested that due to a combination of two factors, the launch of spot Bitcoin ETFs in the United States and the reduction of the reward to miners by half, the price of Bitcoin could rise to $200,000.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
