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Bitcoin Price on Course to $100,000 by 3rd Quarter of 2021, says 10T Holdings Co-founder

Bitcoin (BTC) has been undergoing a price correction after it surged to highs of $41,500 recently. It is down by 5.32% in the last 24 hours, trading at $33,800 at the time of writing, according to CoinMarketCap.

Despite experiencing this dip, Dan Tapiero, the co-founder of fintech and digital assets firm 10T Holdings, believes that BTC has not missed a step in its journey of hitting $100,000 by the third quarter of 2021. He explained:

“Looking at 100 trillion USD-Bitcoin chart. So far, kudos. Yes, 100k very possible by Q321 but then SIDEWAYS until 2024! What will bitcoiners do for 3.5 years as mkt hovers around 2-3 trillion mkt value? BTC becomes stable pristine collateral as DAE gets built up around it.”

Source: Dan Tapiero Twitter

Based on Tapiero’s analysis, after surging to $100k in Q3 of 2021, Bitcoin will be subjected to a ranging market given that it will move sideways until 2024, and this will make the leading cryptocurrency a stable collateral, which will not need any intermediaries.

Therefore, it looks like it’s boiling down to a matter of when, not if Bitcoin hits the $100,000 mark. Earlier this month, leading American bank JPMorgan Chase & Co. disclosed that the target price of $146,000 could be breached in the long term if more public support and market share evaded traditional safe-haven asset gold for Bitcoin.

Preaching the holding gospel

Crypto analyst Tone Vays has revealed that BTC’s price ought to hold the $31,500 level because a deeper price plunge will see the leading cryptocurrency plummet to the mid $20k range.

Nevertheless, the holding gospel is continuously being preached because some analysts see it as the light at the end of the tunnel in the long term. Crypto trader and technical analyst Michael van de Poppe recently stated that holding Bitcoin for the long term was key because its price is still skewed upwards above the all-time high (ATH) of $20,000 set in December 2017.

His sentiments are echoed by Isaiah Jackson, the co-founder of KRBE digital assets group and author of “Bitcoin & Black America,” who believes that BTC is good for the future because it will fix economic injustices. He, therefore, encourages Black investors to jump on the BTC bandwagon. Time will tell what Bitcoin has in store in 2021.

Bitcoin is Teaching Generation Z How to Properly Save, says 10T Holdings Co-Founder

Bitcoin (BTC) is continuously surprising the world with its outstanding price achievements. It has taken the world by storm based on its impressive bull run, which saw its previous all-time high (ATH) of $20,000 – which has been the highest price level it was able to hit for three years – breached in mid-December 2020. The leading cryptocurrency is hovering around the $38,400 price at the time of writing, according to CoinMarketCap.

Dan Tapiero, the co-founder of fintech and digital asset firm 10T Holdings, said that BTC is playing an instrumental role in teaching Generation Z (Gen Z) how to save.

He took to Twitter to reveal a compelling story of how he had advised his 16-year-old daughter to buy Bitcoin (BTC) before, but to no avail. The narrative is, however, different because she finally heeded his call by investing 30% of her cash in Bitcoin, agreeing to hold the cryptocurrency as a legitimate investment. Tapiero revealed:

“My 16-year-old daughter finally buys Bitcoin using the Paypal app. She would not listen to her old dad before….but ‘wow, it’s so easy.’ Told her it could go up 10x in 5yrs (conservative). Next, she puts 30% of her cash in it and agrees not to sell. BTC is how Gen Z learns to save.”

He believes that Bitcoin is a gift to Gen Z, those born between 1997 and 2015, because it will uplift their saving culture. BTC is also popular with the preceding generation, Millenials because in the eyes of some, it is the Millennial’s version of gold as attested by a former Australian politician in November last year.

Bitcoin’s correlation with USD sinks to a historic low

Without a doubt, the US Dollar (USD) has been taking a beating from the present Bitcoin surge. Research shows that both assets have an inverse relationship. This was evidenced by the fact that as BTC skyrocketed by more than 295% in late 2020, the US Dollar Index (DXY) slipped to a 32-month low.

Market analyst Mati Greenspan has revealed that the correlation between Bitcoin and the USD has slipped to the lowest reading in history at -0.15. He acknowledged:

“According to data from Coinmetrics, the correlation between bitcoin and the USD is now -0.15, its lowest reading in history. The inverse correlation is still tiny, but the trend is clear. That’s what happens when Bitcoin flies for 6 months while the dollar sinks like a stone.”

This information, coupled with news that incoming U.S. President Joe Biden plans to incorporate a $1.9 trillion spending package to bail out the economy, is a silver lining to Bitcoin as it seeks to go to the moon.

1 Billion People Using Bitcoin in the next 4 Years Puts Price North of $500k, says 10T Holdings Co-Founder

Bitcoin’s widespread adoption is showing no signs of stopping, as evidenced by its surge to hit a price of more than $50,000. This milestone has never been seen in its twelve-year history.

With a projection of 1 billion people using BTC in the next four years, as acknowledged by crypto analyst Willy Woo, Dan Tapiero, the co-founder of fintech and digital asset firm 10T Holdings, believes this trend will push Bitcoin’s price above $500,000. He explained:

“No one in the world is prepared for the speed and scale of Bitcoin adoption suggested by Willy Woo. 1 billion people using Bitcoin in the next 4 yrs. BTC ‘adoption’ by 2025 to be equivalent to internet adoption in 2005. 1 billion people using BTC puts the price north of 500k.”

If the price target of $500k is achieved, this will push Bitcoin’s market value to the same level as that of gold, which stands at $10.6 trillion as the battle between the two for the status of a safe-haven asset seems never-ending.

This analysis correlates with the views of Veteran trader Peter Brandt who trusts that BTC is experiencing its third parabolic advance in its history with a target of $240,000.

Bitcoin futures contracts hit $17.5 billion

As Bitcoin edges closer to a $1 trillion market value, its future contracts across major exchanges hit $17.5 billion.

The leading cryptocurrency is currently trading at $52,604 with a market capitalization of $980 billion, according to CoinMarketCap.

Crypto trader Carl Martin tweeting under the pseudonym The Moon, has noted that BTC has significant upward potential, and $100,000 might be next. He stated:

“It’s only the beginning of the year, and Bitcoin is already at 52K. We have a lot of upside potential until the end of the year. 100K next!”

The trader added that BTC was forming a horizontal triangle.

It, therefore, seems inevitable that Bitcoin will make a higher price trajectory in the near future.

Colossal Increase in US Household Liquidity Might Push Bitcoin Further Upwards, says 10T Holdings Co-founder

Bitcoin (BTC) has been on overdrive as it surpassed the psychological barrier of 58k and hit $58,156 on March 11.

Even though the leading cryptocurrency has retracted to $56,721 at the time of writing, it has recorded green bullish candlesticks for seven consecutive trading days.

Dan Tapiero, the co-founder of fintech and digital asset firm 10T Holdings, trusts that the remarkable increase in US household liquidity to the tune of $2.67 trillion could trigger further upward momentum for Bitcoin. He explained:

“Colossal increase in US household liquidity in 2020. $16.5 trillion total now sitting in bank accounts/money market funds at 0% yield! Exit tsunami from 0% cash not yet started means Bitcoin will run a lot further and yields in the digital world to drive the Stablecoin boom.”

Tapiero trusts that with a boosted purchasing power, more households will be in a position to enter the Bitcoin network, and this will push the price upwards. This, coupled with the passage of President Joe Biden’s $1.9 trillion COVID-19 stimulus package, will boost BTC’s uptrend.

Bitcoin is unlikely to go below $47,000 in the short-term

According to IntoTheBlock, there is a high probability that Bitcoin will not go below the $47k level in the short-term based on the overwhelming amount of BTC bought at this level. The crypto intelligence firm acknowledged:

“It’s unlikely that Bitcoin will crash below $47,000 in the short term. The IOMAP points to strong support between $50.6k to $47.2k, where previously 2.28m addresses bought a total of 841K BTC.”

Previously, IntoTheBlock had revealed that the $46-48k range had emerged to be a significant institutional resistance level based on the considerable number of BTC bought. With Bitcoin having surpassed this area, it seems it has beenflipped to support based on the latest insights.

Crypto analyst Joseph Young believes that the Bitcoin market might consolidate for a while, but this is healthy.