Dan Tapiero forecasts an ‘explosive’ bull market

Dan Tapiero, co-founder of 10T Holdings and Gold Bullion International, in conversation with Cointelegraph said that the bearish phase of the crypto market has ended and forecast an ‘explosive’ rally.

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\”We will likely see new highs in the second half of 2024 and 2025. And I think during this bull phase the total market capitalization of the crypto market will reach $6-8 trillion,\” the expert added.

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Tapiero also shared some market strategies. The entrepreneur explained that the most important thing is to avoid being influenced by the emotions and fears of others. In his view, many segments of the industry do not correlate with each other, so one should be patient with open positions.

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He emphasised that in 2022 the trading volume of stablecoins reached $8 trillion and more than 1 trillion NFT were issued, and blockchain games were gaining popularity. And not long ago these metrics were virtually zero, Tapiero noted.

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\”Five to six years ago, nothing existed. You didn’t even have Ethereum. There was only Bitcoin. Therefore, as the crypto industry expands, the value of digital assets also increases,\” he explained.

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The entrepreneur believes that cryptocurrencies are a market akin to other assets, bonds and stocks. The most important skill for operating in it, Tapiero said, is the ability to \”discard emotions and make rational judgments that are not affected by news or people’s fears.\”

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Earlier in May, Binance chief Changpeng Zhao saw signs of a bull market from a report about digital assets on Chinese television. He noted that this event generated real buzz in the country, which would positively affect the industry.

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In the same month, writer and scholar Nassim Taleb stated that Bitcoin’s price movements during periods of financial turmoil in the United States did not confirm its role as a financial hedge.