Bitcoin’s Path to $200,000 Deemed Achievable by 10T Holdings CEO

Bitcoin could easily reach $200,000 due to ETF inflows and the halving event, according to a forecast by Dan Tapiero, CEO of 10T Holdings, in an interview with The Block.

“I don’t think this expectation is that crazy,” he shared.

The potential for a threefold increase from the current price roughly aligns with the percentage difference between the peaks of 2017 and 2021, the expert noted. He added that from the bear market lows to the 2021 peak, digital gold increased twentyfold, suggesting a target of $300,000 as a positive scenario.

“It’s hard to pinpoint exact targets and timing in these matters. I think we’ll reach this zone within the next 18-24 months, maybe even sooner,” he said.

Tapiero identified the upcoming halving in April as another fundamental bullish macro factor.

“The reduction in supply during a rapid increase in ETF demand indicates significant growth potential. I believe the first cryptocurrency will lead the way for everything else,” he stated.

The CEO of 10T Holdings noted “good chances” for the approval of Ethereum-based exchange-traded funds due to the “asset’s validation and its network effect.” The expert was uncertain whether ETF registration would occur in May or later.

Tapiero also highlighted Solana’s market-leading growth, attributing it to a surge in on-chain activity, including a boom in meme coins, which are part of a “massive bullish trend.”

“I believe the value of the entire crypto space will multiply significantly. Now and certainly over the next five years,” concluded the expert.

Earlier, analysts at Standard Chartered revised their year-end 2024 Bitcoin target upward from $100,000 to $150,000, and for Ethereum to $8,000.

Previously, Pantera Capital suggested the possibility of the first cryptocurrency’s price rising to $147,000 by 2025.