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Gold Bullion International co-founder Dan Tapiero believes that it’s only a matter of time before Bitcoin surges into the six-figure threshold as $15 trillion in institutional capital could flow into BTC, pushing the Bitcoin price as high as $500,000.
Speaking to Anthony Pompliano on the Pomp Podcast, Tapiero asserted that in terms of price appreciation, Bitcoin is king, even though he believes investors should own both gold and Bitcoin:
“In the next five years, I can see gold at $4,000, so that’s double. But if gold is at $4,000, Bitcoin is probably somewhere between $300,000 and $500,000, so that’s a 20, 30x.”
He went on to add, “I don’t really think that anyone in the gold world […] they are not going to debate that.”
Tapiero believes that institutional investors and finance whales are likely to invest between 5% and 15% of their portfolios in Bitcoin, and noted that the sector was currently worth $100 trillion:
“That’s a huge chunk. I mean, 15% of $100 trillion is $15 trillion.”
But gold is a store of value, and that is only one aspect of what Bitcoin is. Bitcoin is an entire network, and that’s why he believes it will be much bigger than gold:
“There is no question that Bitcoin is going to outperform gold.”
Other analysts are similarly bullish about Bitcoin, with Off the Chain Capital chief investment officer Brian Estes telling Reuters today that it “is not a stretch” for BTC to surpass $100,000 in one year, and predicted that it could go as high as $288,000 by the end of 2021.
CNBC host Jim Cramer also believes in the future of Bitcoin, as revealed on another podcast with Pompliano. Cramer, who was a Bitcoin skeptic during the 2017 bull market, recently stated that he had since realized that Bitcoin is a good hedge against inflation and also one that his kids can understand:
“I think that my kids, when they get my inheritance, won’t feel comfortable with gold, and will feel comfortable with crypto.”
In other trending Bitcoin News today:
Bitcoin Could Be On Track To $74,000, Trader Says As Cryptocurrency Approaches All-Time Highs
“It’s hard to give Bitcoin an intrinsic fundamental value because there’s pretty much a finite supply,” Todd Gordon, founder of TradingAnalysis.com, told CNBC’s “Trading Nation” on Tuesday.
Only 21 million bitcoins will ever be produced.
“The point of all this is a reliable relationship in the Elliott wave theory is the percent distance traveled in that first wave in 2014 is often equal to the percent change in wave five,” Gordon said.
Seeing as the first wave was a roughly 658% rally, Gordon’s target was a lofty one.
“I can’t believe I’m going to go out on CNBC and say this, but it’s about 74,000,” he said. “The Elliott wave goes very well with … Fibonacci multiples. If it does want to fall short, it can go to 61% of that target, which is only at 34,000.“
Another trader saw even loftier heights ahead for the crypto play.
“I’ve always had to own some,” Mark Tepper, president and CEO of Strategic Wealth Partners, said in the same “Trading Nation” interview.
“It’s like a FOMO concept for me,” he said. “If I never owned any and bitcoin hits 100,000 per coin, I’d probably cry myself to sleep every night for the rest of my life if I didn’t own some.”
“You can kind of compare this to Tesla,” he said. “Tesla’s up over 500% this year. In my opinion … I think bitcoin could potentially be the Tesla of 2021. It could, in my most bullish case possible, get to 100K by the end of next year. That’d be my bull case. I think my base case is a little closer to it doubling up to about 40K by the end of 2021.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
it is not too late for Bitcoin.. great alternative to gold… which i have always believed in
— Jim Cramer (@jimcramer) November 24, 2020
https://cointelegraph.com/news/2-counterarguments-for-cnbc-s-brian-kelly-who-sees-a-19k-bitcoin-top
https://www.cnbc.com/2020/11/24/bitcoins-on-track-to-74000-trader-says-as-crypto-nears-records.html
https://cointelegraph.com/news/no-debate-that-bitcoin-will-increase-20x-says-gold-industry-insider
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Bitcoin’s Potential Surge: Fractal Analysis Points to $320K by May, Plus 5 Major Crypto Predictions for 2022
The world of cryptocurrency is once again buzzing with excitement as a Bitcoin fractal analysis suggests a staggering price target of $320,000 by May. This bold prediction is just one among several major forecasts outlined in the article, offering a glimpse into what 2022 might have in store for Bitcoin and the broader crypto market.
The heart of the discussion revolves around the intriguing concept of fractal analysis applied to Bitcoin’s price movements. By identifying patterns in historical price charts and extrapolating them into the future, analysts propose a potential trajectory that could see Bitcoin reaching an impressive $320,000 by May. The crypto community is keenly watching to see if this fractal unfolds as predicted, adding a layer of anticipation to the evolving narrative of Bitcoin’s price journey.
The article doesn’t stop at the $320,000 forecast; it delves into five major predictions for the broader cryptocurrency space in 2022. These forecasts may shape the landscape of digital assets and influence investor sentiment in the coming months. As with any predictions, it’s important for market participants to approach them with a balanced perspective, considering the dynamic nature of the crypto market.
For investors navigating the cryptocurrency landscape, the predictions outlined in the article provide valuable insights into potential trends and developments. From regulatory shifts to technological advancements, these factors can significantly impact the market, and staying informed is crucial for making informed decisions.
As the crypto community gears up for the unfolding year, the prospect of Bitcoin reaching $320,000 and the other predictions outlined in the article contribute to the ongoing dialogue about the future of digital currencies. Whether these projections materialize or introduce unexpected twists to the narrative, the cryptocurrency landscape is sure to be dynamic and full of surprises.
Investors are encouraged to exercise caution, conduct thorough research, and consider a diverse range of factors when navigating the crypto market. The coming months will undoubtedly reveal the extent to which these predictions align with market realities and whether 2022 will indeed be a transformative year for Bitcoin and the broader cryptocurrency ecosystem. As the crypto saga continues, buckle up for a potentially thrilling ride in the world of digital assets.
