‘There’s a Big Bull Rush Coming’ – Bitcoin and Ethereum on Course for Massive Gains, According to Dan Tapiero
Macro investor and fund manager Dan Tapiero is expressing bullish sentiment on Bitcoin (BTC) and Ethereum (ETH).
In a new interview on the CoinDesk YouTube channel, Tapiero says that Bitcoin could go up by over 56% from the current level while Ethereum could appreciate by more than 81% from the current price over the coming months.
“Over the next six months, I think we will be over $100,000 per Bitcoin and probably over around $5,000 in Ethereum as well. I think there’s a big bull rush coming.”
At time of writing, Bitcoin is trading at $63,941 while Ethereum is changing hands at $2,756.
According to the macro investor and fund manager, a Federal Reserve rate cut will impact Bitcoin positively.
“When liquidity is plentiful, which I think the markets are beginning to sense that it’s going to become, these liquidity assets move…
…And I keep saying to people, look, when the interest rate was zero, Bitcoin was around $65,000, the peak in 2021. Rates went to 5%, they’re still there. And Bitcoin is now at the same price. When that short rate goes from 5% to 2.5% or 3%, Bitcoin should easily double just on that.
Forget about all of the myriad, wonderful developments going on on-chain and in this space, all the innovation. Forget about all of that. If you just look at that one measure, I think there’s cause for being super bullish right here.”
On the macro environment, Tapiero says,
“And so over the next two, three, four months, as I look out, I’m very bullish on Bitcoin and Ethereum. Those to me are the core assets of the digital asset ecosystem broadly, as I’d call it…
…but I look at that broad background of the traditional macro, and I think it’s very supportive for core crypto.”
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Author: Mark Emem
