Famous US CEO Says "Bull Rides Away"! He Announces Bitcoin Peak Prediction, Then Warns of a 70% Drop!
Bitcoin recently surpassed $126,000 on October 6th but has since faced sharp declines below $100,000. Despite bearish trends, Dan Tapiero, a US billionaire and CEO of 10T Holdings, remains optimistic about Bitcoin's bull market. He predicts Bitcoin will reach $180,000 during the current cycle, supported by factors like stablecoin growth, institutional adoption, and regulatory clarity, though a major correction might follow. Tapiero also warns of potential declines up to 70%, drawing parallels to the 2018 market crash. Long-term, he forecasts Bitcoin could exceed $1 million in value within the next 10 years.
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Bitcoin's All-Time High and Recent Struggles
Bitcoin (BTC) last reached a new all-time high (ATH) on October 6th, surpassing $126,000. However, since then, Bitcoin has faced sharp declines, falling below $100,000. This long-term downward trend has increased bearish rhetoric in the market, raising concerns among investors.
Dan Tapiero's Optimism Amid the Decline
Despite the downturn, Dan Tapiero, a prominent US billionaire and CEO of private equity firm 10T Holdings, shared an optimistic outlook on Bitcoin's future. He noted that the recent risk-aversion trend and significant selling by long-term “OG whales” have not derailed the current bull market. Tapiero argued that Bitcoin is still on track to reach $180,000 as part of this bull cycle, despite recent sharp corrections.
Factors Supporting the Bull Market Continuation
Tapiero believes several factors signal that the bull run is still ongoing:
- The rise of stablecoins
- Increased institutional adoption
- The implementation of clearer regulations While acknowledging that the current environment is challenging, these developments reinforce his confidence in Bitcoin's upward trajectory.
Cautionary Warning about Potential Corrections
While predicting Bitcoin could reach $180,000, Dan Tapiero warned about the possibility of a significant market correction after the cryptocurrency hits its peak. “Market dynamics do not work in a linear manner,” he stated, recalling the 90% decline of Bitcoin and Ethereum in 2018. Tapiero clarified: “I'm not saying we'll be down 90% this cycle either. I'm guessing we could see a decline of up to 70%.”
Long-Term Predictions
Despite cautioning about short-term corrections, Dan Tapiero maintains a positive long-term outlook. He predicted that Bitcoin could gain at least $1 million in value over the next 10 years. He emphasized, however, that his statements are not investment advice, encouraging investors to make informed decisions.