Bitcoin’s price action has not been the most bullish over recent weeks, to say the least. After the asset posted a series of tops in the $12,000 range, a $2,000 drop ensued. At the lows early last week, BTC traded for under $10,000 due to immense selling pressure. Bitcoin has undergone a rally since the worst of the drop and now trades at $10,350 as of this article’s writing. This is far from a full-blown recovery but analysts remain optimistic about the leading cryptocurrency and its altcoins. One macro trader, Dan Tapiero of Gold Bullion Int., says that both Bitcoin and gold will be boosted over a long-term time frame due to macro trends. One such trend he mentioned recently is the collapse in commercial real estate, which he thinks will force the Federal Reserve to maintain stimulus. Bitcoin and Gold Could Be Boosted by This Macroeconomic Trend

Bitcoin and gold will benefit from the ongoing macroeconomic trends induced by the pandemic and lockdowns, Dan Tapiero recently postulated. Tapiero is a co-founder of 10T Holdings, DTAP Capital, Gold Bullion Int, and other firms. He is a long-time gold bull and recently begun to focus his time on the Bitcoin and digital asset space.

Commenting on how the Federal Reserve will likely keep rates low due to the commercial real estate crisis, Tapiero wrote:

“An entire asset class redefined almost overnight by covid/#WFH. Total value of all US #commercialrealestate is $16 trillion. Now entering largest bear mkt since late 80s? 50% price drop wipes out $8 tril. Major econ drag/knock on effects huge. Rates stay 0%, +#GOLD and #BTC.”

An entire asset class redefined almost overnight by covid/#WFH.

Total value of all US #commercialrealestate is $16 trillion.

Now entering largest bear mkt since late 80s?

50% price drop wipes out $8 tril.

Major econ drag/knock on effects huge.

Rates stay 0%, +#GOLD
and #BTC pic.twitter.com/U5luVR8FM6

— Dan Tapiero (@DTAPCAP) September 14, 2020

This is far from the first time Tapiero has expressed his support for Bitcoin due to ongoing macroeconomic trends. He recently said on BTC’s potential to grow in this market cycle:

“Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run. Just breaking up NOW. Should last a few years as 2.5yr consolidation is fantastic base for catapult up. Break of old highs will have explosive follow through. Time to sit and be patient.”

He is far from the only bull on Wall Street.

Mike Novogratz, CEO of Galaxy Digital and former partner at Goldman Sachs, recently said that the Federal Reserve’s liquidity injections are poised to send Bitcoin and gold higher.

This has been echoed by Raoul Pal, former hedge fund manager and former head of hedge fund sales at Goldman Sachs. Pal is currently the CEO of Real Vision.

The investor once said that Bitcoin could be the best performing asset of at least the next two years due to its fundamental and technical trends.

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