Dan Tapiero’s Long-Term Bitcoin Outlook

Macro investor and fund manager Dan Tapiero expresses a long-term bullish stance on Bitcoin (BTC), despite a recent correction that saw the cryptocurrency drop about 24% from its all-time high in January.

In a recent interview on the Wolf of All Streets YouTube channel, Tapiero projected that Bitcoin might appreciate by approximately 117% from current levels after a period of sideways trading.

> “I always expected us to spend months consolidating around $100,000. I think we’re going to chop up back and forth between $70,000 and $100,000 to digest all this news. And at some point, we’re going to head back up. And I have had this $180,000 target in mind for a while.”

On when Bitcoin could reach the target of $180,000, Tapiero stated,

> “I know some people have been more aggressive but I think this bull phase, we can hit that [$180,000] this year or potentially early next year. But I’m thinking more this year.”

Tapiero highlighted that Bitcoin has shown positive returns from its mid-2023 levels, advising investors to gain perspective and not be swayed by the current dip.

> “So it’s just the way markets work right – you got 85% or 90% bulls up at $100,000 and now you’re down at, what is it? 15%? And people are despondent, they think the world is over and yet it’s at $80,000 which is still up you know 2x, 3x from 18 months ago. It’s pretty, pretty incredible.”

At the time of writing, Bitcoin trades at $82,940.