Bitcoin is currently consolidating after rejecting a key resistance level. The price is now testing support around $82,000 to $83,000, with a next support level near $76,000 if it falls further.
Despite the volatility, Dan Tapiero, Managing Partner, CEO and CIO of 10T Holdings, remains bullish. He explained that the shift in the U.S. government’s stance toward crypto—particularly under the Trump administration—has been one of the most important developments in recent years.
Tapiero fully expected Bitcoin to hit the $100,000, which it did, as round numbers like this often act as psychological barriers. He now forecasts that Bitcoin will consolidate between $70,000 and $100,000 for a period, before eventually pushing higher.
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Long term, he’s aiming for a potential target of $180,000, though he believes this is more likely either later this year or early next year.
While acknowledging ongoing fiscal tightening and market uncertainty, Tapiero is confident these challenges will be offset by future interest rate cuts, with the fundamentals for Bitcoin remaining strong, despite the current consolidation phase.
Are Altcoins a Good Investment Right Now?
Here’s where Tapiero gets blunt. A lot of people were surprised when Bitcoin hit $100,000 and started to stabilize, he noted.
However, altcoins have continued to struggle. In fact, Tapiero flat-out warns that many altcoins are likely to fail and end up going to zero. He said that some altcoins are still searching for a use case, and some, like meme coins, have drained liquidity from the market. Tapiero pointed out that the market is flooded with altcoins like Trump coin and memecoins on Solana, many of which don’t have clear use cases.
Related: XRP Defies Market, Outperforms Bitcoin on Key Indicator: Analysis
He also explained that while major altcoins like Ripple and others with strong networks and use cases have performed reasonably well, most of the speculative coins will likely fail. Tapiero believes this is just another cycle in which the majority of these tokens will eventually disappear. In other words, choose your altcoins carefully.
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