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

Dalmas Ngetich

1 year ago

2 mins read

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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.

GMI Bitcoin liquidity index | Source: Dan Tapiero on X

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.

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.

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.

Bitcoin price trending upward on the daily chart | Source: BTCUSDT on Binance, TradingView

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

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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