According to analysts, Bitcoin May Rise Up To $250,000 Before Authorities Care
By Mark Lemon – Cryptocurrency Professional
Crypto cynics have pondered over the years, convinced that central banks and other bodies will target Bitcoin and cryptocurrency trading due to its threat to traditional financial ecosystems. However, according to Dan Tapiero due to the current development condition of the industry, these concerns are unsubstantiated for now.
Bitcoin is not currently considered macro yet!
While in recent years Bitcoin has seen tremendous growth, it remains a small macro-based commodity. Tapiero, co-founder of DTAP Capital, Gold Bullion Int. and other businesses has been observing Bitcoin closely for some time now.
Tapiero, one of the first macro voices to enter the space, has recently commented that Bitcoin might not be meaningful on a macro scale until it reaches $250,000, or a market capitalisation of about $5 trillion. He states that “$200 billion is too small” for macro authorities to start drawing their attention to the space. He compares and highlights that “Gold is $12 trillion, and no one cares”, adding that “#Bitcoin has clearance up to at least 250k."
Raoul Pal, former Head of Hedge Fund Trading at Goldman Sachs and CEO of Real Vision, also recently commented that Bitcoin is "irrelevant on a global asset." Nonetheless, it is worth mentioning that both owners are highly optimistic about crypto market investment. Both believe that the leading cryptocurrency will experience an explosive surge in this market cycle, with the potential to take its value up to $100,000 and beyond.
Tapiero and Pal's standpoint that Bitcoin and cryptocurrency is currently not significant on a macro scale has been reiterated by Tom Lee of Fundstrat Global Advisors. Lee has been tracking and analyzing cryptocurrencies for years. An equal optimist, Lee believes that the US Securities and Exchange Commission should not approve a Bitcoin (BTC) ETF until it trades at least at $150,000 or more.
BC Bitcoin also believe in the future of cryptocurrencies. You can Buy and Sell cryptocurrency on our platform at the best market rates. If you are looking to exchange Bitcoin or to simply learn more about where to buy Bitcoin, get in touch today.