Bitcoin (BTC) last reached a new ATH on October 6th, surpassing $126,000. Since then, it has continued to struggle with sharp declines extending below $100,000.
While this long-term downward trend in Bitcoin increases bearish rhetoric, important statements came from the famous US billionaire and CEO of private equity firm 10T Holdings, Dan Tapiero.
The famous billionaire argued that despite the recent risk-aversion trend and significant selling by long-term “OG whales,” the Bitcoin bull market still remains strong.
At this point, Dan Tapiero said that despite the sharp corrections, Bitcoin is on track to reach $180,000 as part of the current bull cycle.
Tapiero acknowledged that the recent declines don’t reflect a positive environment, but noted that the rise of stablecoins, increased institutional adoption, and clearer regulations are signs that the bull run is still ongoing.
The famous billionaire predicted that Bitcoin would reach $180,000 on its way to the top, but warned that a major correction could come after BTC reaches its peak.
Stating that market dynamics do not work in a linear manner, Tapiero recalled the 90% decline of Bitcoin and Ethereum in 2018.
While Dan Tapiero predicts a significant drop, his long-term outlook is quite optimistic. “My 10-year forecast is that Bitcoin should gain at least $1 million in value over the next 10 years,” Tapiero said.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/famous-us-ceo-says-bull-rides-away-he-announces-bitcoin-peak-prediction-then-warns-of-a-70-drop/
