Rising Liquidity Will Push Bitcoin To Over $200,000 In Less Than 5 Months: What It Means

Name	Symbol	Market	Market Cap ($)	Algorithm
Stacks	STXUSD	Crypto	2,886,269,834	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Stacks

STXUSD

Crypto

2,886,269,834

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.010	0.50%	2.01	2.01	2.01

Price Change

Price Change %

Current Price

Bid Price

Offer

0.010

0.50%

2.01

High Price	Low Price	Open Price	Prev. Close	52 Week Range
2.03	1.99	2.02	2.00	0.403700 - 3.85

High Price

Low Price

Open Price

Prev. Close

52 Week Range

2.03

1.99

2.02

2.00

0.403700 - 3.85

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	06:26:31	1.50	2.01	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

06:26:31

1.50

2.01

USD

Price x Volume	Volume	Base Symbol	Related Pairs
625,048.92	311,697.16	STX	STXEUR	STXGBP	STXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

625,048.92

311,697.16

Rising Liquidity Will Push Bitcoin To Over $200,000 In Less Than 5 Months: What It Means

19/12/2023 3:00am

NEWSBTC

According to Dan Tapiero, Managing Partner at 10T Holdings, the Bitcoin and crypto market is on the verge of a major transformation, with the world’s most valuable coin likely to soar to over $200,000 by May 2024. Citing data by Raoul Paul, the CEO of Real Vision, Tapiero suggests that traditional money managers must take notice and prepare for a paradigm shift in the financial landscape. Bitcoin Could Rally To Over $200,000 In 2024 On Rising Liquidity Tapiero bases this bullish forecast on the expected BTC liquidity surge in the coming months. Market participants hope the stringent Securities and Exchange Commission (SEC) will approve the first batch of Bitcoin ETFs in the next few trading weeks. The Bitcoin ETF, set to be issued by some mainstream players in traditional finance, including BlackRock, will provide regulated vehicles through which institutional investors can get exposure to the coin. Based on Tapiero’s analysis, as more and more institutions adopt Bitcoin, its liquidity will increase, boosting prices. Related Reading: Investors Flock To Stacks (STX) As It Gains 10% Against The Bears – Here’s Why With a Bitcoin ETF on the table, it would also mean the release of institutional-grade Bitcoin trading platforms. This will cement Bitcoin’s position in the industry and its potential role in reshaping finance. Paul’s monthly GMI data, which tracks the sentiment of institutional investors, as Tapiero mentions, further reinforces the general bullish sentiment across the board. Looking at the GMI total liquidity index, the trend has been rising, suggesting that institutional interest in Bitcoin has also increased. This trend also indicates that more funds and asset managers are likely allocating more of their portfolios to Bitcoin, expecting to ride the leg up or be on the safe side. Traditional Fund Managers Watching, BTC Up 64% From September Lows Looking at Tapiero’s preview, the managing partner thinks rising prices will seriously affect traditional money managers. As such, if Bitcoin rallies to $200,000 on increasing liquidity, in the partner’s assessment, ignoring this asset class could pose a significant career risk. Related Reading: XRP Gets Rejected Down: Analyst Predicts Bottom Target Notably, Tapeiro opines that managers who fail to embrace the transformative power of Bitcoin may trail. This is because crypto will continue to evolve and find adoption. As of December 18, Bitcoin is firmly in an uptrend and expanding with rising trading volume. The coin is up 64% from its September 2023 lows. Though there has been a cool-off in the past few trading days, prices are trending above the 20-day moving average. Accordingly, in the days ahead, how prices pan out will shape the medium term. As it is, the immediate resistance level lies at around $44,500. If buyers take charge, the coin may float to $50,000. Afterward, it may float to the all-time high of $69,000 in the sessions ahead. Feature image from Canva, chart from TradingView

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