U.Today – Gold Bullion International and 10T Holdings co-founder Dan Tapiero has taken to his official account on the X platform to share a bullish price prediction.
He tweeted that the setup on the charts is starting to look “scary bullish for Bitcoin.”
“Frightening optimism for Bitcoin”
Tapiero tweeted that the current sideways consolidation is almost over, adding that the markets always have some surprises for traders and investors. He hasn't been able to detect any specific catalyst leading Bitcoin's bull run, but he doesn't think it's important in this case: “The specific catalyst is unclear, but it doesn't matter.”
In the last 24 hours, the world's main cryptocurrency is down 3.18%. This drop 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 struggled to regain it and has already tried twice to break the $63,300 zone, but so far without success.
Many expect Bitcoin to skyrocket later this year or in 2025 after the pivotal event for BTC that occurred 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 possible price catalyst is that spot ETFs continue to buy Bitcoin en masse, having begun their regular accumulation in January, when they were approved for trading by the SEC.
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Robert Kiyosaki Gives an Important Reason to Buy Bitcoin
If this were to happen, billions of US dollars would flow back into the United States and collapse the dollar. He recommends buying Bitcoin, gold and silver as protection against this possible negative development.
This article was originally published on U.Today.
