Bitcoin price nears $55K as fund manager still sees $100K in 2021
Some analysts still expect six-figure Bitcoin prices this year despite the recent market panic. Bitcoin (BTC) is still on course to hit $100,000 this year and its recent dip is “unchanged price action.” That was the conclusion of one of the industry’s best-known investors as BTC/USD recovered from its trip to near $46,000.
Tapiero eyes “very rare buy signal” for Bitcoin...
In a tweet on April 27, Dan Tapiero, fund manager Dan Tapiero revealed that he had been “inundated” with concerned clients over Bitcoin’s recent price dip. There was, however, no need to panic. Highlighting a technical (TD sequential) buy signal not seen since the March 2020 crash to $3,600, Tapiero gave hope to those wondering what became of the myriad sky-high BTC price predictions for 2021.
“A very rare td buy signal in Bitcoin. Last one came right at the March '20 low. Still see 100k this yr,” he wrote. “Overwhelmed with calls of panic last few days over what is unchanged price action...ie still at 50k. Hodl is the only way to be long without emotion.”
...While market eyes new “Elon candle”
The comments came in tandem with a curious exchange between Tesla and SpaceX CEO Elon Musk and popular trader Dave Portnoy, the latter a famous Bitcoin skeptic who nonetheless caved in to pressure to add it to his portfolio earlier this year. When it became known that Tesla had sold a portion of its holdings, Portnoy took this as proof of the company’s lack of belief in its long-term viability. Musk denied this and claimed that it was in fact a test of its utility.
“I have not sold any of my Bitcoin,” part of a Twitter response read. “Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.”
Musk is a classic source for short-term Bitcoin price movements, and any admission that he had permanently divested himself of his allocation could have easily skewed sentiment to the downside. In the event, BTC/USD returned to levels near $55,000, making gains of almost 10% since the start of the weekend in what could be another classic “Elon candle” move.
“Bitcoin hodl confirmed,” Blockstream CEO Adam Back commented on the Twitter exchange.
Tesla itself reported record profits this week. As Cointelegraph reported, Bitcoin’s underlying fundamentals very much suggest “business as usual” for the largest cryptocurrency despite the recent upheaval. Changes in circumstances for miners, one of the likely triggers for the price dip, were already being accounted for on Monday, and weak-handed traders betting on more downside were getting liquidated.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 89.6% | 4 | $26 358.83 | 0.34% | -2.46% | $513 940 893 353 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 90.4% | 6 | $1 605.45 | 0.57% | -1.06% | $193 030 672 715 |  |
|
| 3 |  USDT |
Tether predictions | 94.4% | 1 | $0.999256 | -0.02% | -0.09% | $83 209 237 743 |  |
|
| 4 |  BNB |
Binance Coin predictions | 90% | 4 | $211.90 | -0.51% | -1.42% | $32 599 483 391 |  |
|
| 5 |  XRP |
XRP predictions | 92% | 8 | $0.498171 | -0.94% | -3.82% | $26 558 684 405 |  |
|
| 6 |  USDC |
USD Coin predictions | 90.8% | 1 | $1.000013 | -0.01% | -0.01% | $25 482 938 324 |  |
|
| 7 |  STETH |
Lido stETH predictions | 93.6% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 8 |  WTRX |
Wrapped TRON predictions | 88% | 20 | $0.084973 | 0.59% | 0.51% | $8 639 700 468 |  |
|
| 9 |  ADA |
Cardano predictions | 88.8% | 8 | $0.244012 | -0.57% | -2.80% | $8 571 772 939 |  |
|
| 10 |  DOGE |
Dogecoin predictions | 93.6% | 6 | $0.060473 | -0.46% | -3.62% | $8 537 944 555 |  |
|
| 11 |  SOL |
Solana predictions | 86.8% | 22 | $19.21 | 1.02% | -4.69% | $7 926 687 641 |  |
|
| 12 |  TRX |
TRON predictions | 86.4% | 18 | $0.085280 | 0.25% | 0.71% | $7 597 972 233 |  |
|
| 13 |  TON |
Toncoin predictions | 60% | 84 | $2.16 | 2.18% | -9.20% | $7 427 615 519 |  |
|
| 14 |  DAI |
Dai predictions | 94.4% | 1 | $0.999584 | -0.05% | -0.02% | $5 345 663 638 |  |
|
| 15 |  DOT |
Polkadot predictions | 89.2% | 11 | $4.00 | -0.25% | -3.61% | $4 927 453 445 |  |
