How High Will Bitcoin Go in 2021? – Every Price Model Compared! ($90,000 – $394,500)
Bitcoin must be worth at least $ 250,000 to be taken seriously – opinion
Cryptocurrency market capitalization remains insignificant
Bitcoin must rise 25 times in price to have an impact on the global economy
Investors are preparing for a bullish trend and foreshadowing a price increase to $ 1 million.
According to Dan Tapiero, a macro investor, co-founder of 10T Holdings, DTAP Capital, the capitalization of the crypto market is too small to have an impact on the global economy..
Bitcoin price should increase 25 times
To become a full-fledged asset in the world market, bitcoin must be worth at least $ 250,000, Dan Tapiero said on his Twitter page.
In his opinion, the capitalization of the cryptocurrency market today is too small to consider this type of asset significant on a global scale. According to Tapiero himself, today the gold market capitalization is $ 12 trillion, and still few people pay attention to gold..
According to the CoinMarketCap resource, the capitalization of the entire cryptocurrency market is $ 342.8 billion. Despite the fact that the sector is developing rapidly, digital coins cannot yet compete with tech giants. For example, Apple has a capitalization of $ 2 trillion. Of course, the cryptocurrency market has grown significantly this year, but this is still not enough. BeInCrypto previously reported that DeFi market capitalization Decentralized finance (DeFi) is this is financial services, technology-based blockchain, which offer users access to an open, efficient and … More exceeded $ 15 billion. The capitalization of the most popular stablecoin USDT accounts for the same amount.
The views of Twitter users about Tapiero’s post were divided. Some users agreed with the statement that the cryptocurrency market is too small to have a tangible impact on the global economy. Others believe that cryptocurrencies will strengthen, and as soon as they become real competition for fiat money, they will ban it everywhere, recognizing it as an illegal asset..
So the user @RaoulGMI wrote the following:
“Yes, I agree 100%. This is currently irrelevant for the global scale of assets. As you say, most central banks are not worried about capitalization of even $ 10 trillion. “.
User @AdamGausepohl suggested that they say openly that “if Bitcoin threatens their sovereign currency, they will decisively put an end to it by making it illegal”.
Tapiero himself believes that it is gold that will soon become the main asset on the world stage..
Finally: #Gold to become an institutional asset class.
Favorite @TaviCosta #Gold chart makes clear case for structural bull mkt to last years.
Key fundamentals set into motion.
Surprised how much #spx
to underperform gold but doesn’t mean it still won’t rally.
(+ # btc too.) pic.twitter.com/8Scc0EKY7O
– Dan Tapiero (@DTAPCAP) September 16, 2020
Bitcoin prepares for a price spike
It looks like the bulls listened to Dan Tapiero’s opinion and tried to push the price of the coin up. In the middle of last week, the first cryptocurrency reached $ 11,000 amid criticism of the policy of the US Federal Reserve.
Pantera Capital believes that Bitcoin is not only in the mainstream of a bull market, but also suggests that this is just the beginning of a large-scale uptrend..
“We are convinced that the cryptocurrency market is now in the early stages of a bull market, fueled by global investment growth and underlying technology.”.
It is also worth noting that the contribution of large and institutional investors to the bitcoin market is increasing every year. For example, quite recently, MicroStrategy announced the acquisition of 17 thousand BTC for $ 183 million. Thus, the company expects to protect its capital from possible inflation.
Recall that Fidelity analysts predict an increase in the cost of bitcoin to $ 1 million.
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