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Charts Look 'Scary Bullish for Bitcoin': Dan Tapiero

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Tue, 14/05/2024 - 14:46
Charts Look 'Scary Bullish for Bitcoin': Dan Tapiero
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Cofounder of Gold Bullion International and 10T Holdings Dan Tapiero has taken to his official account on the X platform to share a bullish Bitcoin price prediction.

He tweeted that the setup on the charts is beginning to look “scary bullish for Bitcoin.”

"Scary bullish for Bitcoin"

Sharing two Bitcoin charts in his tweet, Tapiero stated that these are “starting to look scary bullish for Bitcoin.” In the near future, the investor expects the world’s flagship cryptocurrency to break above the $65,000 level and then head on to $90,000, and then even higher.

Tapiero tweeted that the current sideways consolidation is nearly done, adding that markets always have some surprises in stock for traders and investors. He has not been able to detect any specific catalyst that will lead the Bitcoin bull run, but he does not think it is important in this case - “Specific catalyst unclear but it doesn't matter.”

Over the past 24 hours, the world’s primary cryptocurrency has gone down by 3.18%. This plunge was followed by growth of 1.29%. Bitcoin is currently changing hands at $61,950. Overall, since BTC lost the $65,000 level on May 6, it has been striving to recover it and has twice already attempted to break through the $63,300 zone - but to no avail so far.

Bitcoin is expected by many to skyrocket later this year or in 2025 after the fundamental event for BTC that happened in April – the halving. It reduced the block reward size to 3.125 BTC and, historically, Bitcoin has always skyrocketed after each of the three previous halvings.

Another potential price catalyst is that spot ETFs continue to purchase Bitcoin en masse, having started their regular accumulation in January, when they were approved for trading by the SEC.

Related

Robert Kiyosaki gives major reason for buying Bitcoin

The author of the popular book on financial management “Rich Dad Poor Dad,” Robert Kiyosaki, is a renowned investor and entrepreneur who often endorses Bitcoin in his tweets. Earlier this week, he tweeted that he expects the U.S. dollar to crash since there are continuous rumors about BRICS planning to launch its own gold-backed cryptocurrency.

Should this happen, billions of U.S. dollars will flow back into the U.S. and crash the dollar. He recommends buying Bitcoin, gold and silver as protection from this potential negative development.

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