Bitcoin

Key Points:<ul><li>Institutional Adoption: Increasing institutional interest and the potential approval of Bitcoin ETFs are set to drive liquidity and propel prices.</li><li>Career Risks: Traditional fund managers warned of significant career risks if they ignore the transformative power of Bitcoin in the evolving financial landscape.</li><li>Technical Outlook: Bitcoin, up 64% from September lows, faces a crucial resistance at $44,500. A breakthrough could lead to a rally towards $50,000 and beyond.</li></ul>Dan Tapiero, Managing Partner at 10T Holdings, foresees a substantial transformation in the Bitcoin and cryptocurrency market, projecting the world’s leading <a href="https://twitter.com/DTAPCAP/status/1736430529174474919" rel="noopener noreferrer nofollow">digital currency</a> to skyrocket to over $200,000 by May 2024. Tapiero, drawing on insights from Raoul Paul, CEO of Real Vision, urges traditional money managers to brace themselves for a paradigm shift in the financial landscape.Tapiero’s optimistic outlook is anchored in the expected surge in <a href="https://cryptosnewss.com/category/bitcoin-news/" rel="noopener noreferrer nofollow">Bitcoin</a> liquidity over the next few months. Market participants are eagerly awaiting a potential approval from the Securities and Exchange Commission (SEC) for the first wave of Bitcoin Exchange-Traded Funds (ETFs) in the upcoming trading weeks.Major players in traditional finance, such as BlackRock, are poised to issue Bitcoin ETFs, offering regulated channels for institutional investors to engage with the cryptocurrency. Tapiero contends that as more institutions embrace Bitcoin, its liquidity will see a notable uptick, propelling prices to new heights.The introduction of a Bitcoin ETF also heralds the arrival of institutional-grade <a href="https://cryptosnewss.com/bitcoin-faces-resistance-as-price-drops-below-42000-will-bulls-prevail/" rel="noopener noreferrer nofollow">Bitcoin trading</a> platforms, solidifying Bitcoin’s standing in the industry and its prospective role in reshaping the financial landscape.Tapiero emphasizes that Paul’s monthly Global Macro Investor (GMI) data, tracking institutional investor sentiment, reinforces the prevailing bullish outlook. The GMI total liquidity index indicates a consistent rise, signaling an uptick in institutional interest in Bitcoin.This trend implies that more funds and asset managers are likely reallocating significant portions of their portfolios to Bitcoin, either to capitalize on the upward trend or as a risk management strategy.Traditional fund managers, according to Tapiero, should pay close attention, as a surge to $200,000 could have substantial implications for their careers. Ignoring Bitcoin as an asset class, in his assessment, may pose a significant career risk, given the cryptocurrency’s evolving nature and increasing adoption._______________________________________________________________________________________Stay connected with us on <a href="https://news.google.com/publications/CAAqBwgKMLrrowwwzOOyBA" rel="noopener noreferrer nofollow">Google News</a>, <a href="https://t.me/cryptosnewsss" rel="noopener noreferrer nofollow">Telegram</a>, <a href="https://twitter.com/NewssCryptos" rel="noopener noreferrer nofollow">Twitter</a>, and <a href="https://www.facebook.com/profile.php?id&#61;100089949049302" rel="noopener noreferrer nofollow">Facebook</a> to stay updated on the latest developments and engaging discussions in the realm of CryptosNewss.Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.Originally published at <a href="https://cryptosnewss.com/anticipated-bitcoin-boom-forecasts-suggest-a-surge-to-200000-by-may-2024/" rel="noopener noreferrer nofollow">https://cryptosnewss.com</a><a href="https://cryptosnewss.com/shiba-inu-sets-crypto-ablaze-shibarium-burn-consumes-8-24-billion-shib-tokens/" rel="noopener noreferrer nofollow"> </a>on December 19, 2023.

Anticipated Bitcoin Boom: Forecasts Suggest a Surge to $200,000 by May 2024

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