Alex Krüger: Bitcoin in Supercycle with Potential to Reach $100,000
Economist Alex Krüger believes that Bitcoin (BTC) is currently experiencing an extended bull market where traders and investors are absorbing sell pressure quickly. According to Krüger, Bitcoin is in a supercycle, and the demand for BTC will overpower market supply, leading to a six-figure price tag. While the economist acknowledges that there are bearish signals in the crypto market, he suggests that inflows from spot market exchange-traded funds (ETFs) can invalidate these signals and push Bitcoin to new heights.
Bitcoin’s Supercycle and Price Predictions
Krüger predicts that Bitcoin will rally to as high as $85,000 before experiencing a 35% devaluation. He envisions the price movement to look like this: $85,000 -> $55,000 -> $120,000 -> $85,000. Additionally, he believes that a significant correction may occur around the April 2024 halving of Bitcoin, when miners’ rewards are reduced by half. Regardless of the path, Krüger expects higher prices by the end of the year and even higher prices by the end of the cycle.
Bullish Outlook on Crypto Categories
Apart from Bitcoin, Krüger is also bullish on several crypto categories:
- The crypto-AI intersection
- The upcoming Eigenlayer ecosystem
- The new Bitcoin ecosystem
- Solana (mostly beta)
- Monad
- GameFi
- Airdrops
- Winners in the perps DeFi (decentralized finance) category
Current BTC Price
At the time of writing, Bitcoin is trading at $68,540.
Hot Take: Bitcoin’s Supercycle and Potential for $100,000
Alex Krüger, a widely followed economist, believes that Bitcoin is currently in a supercycle where demand for BTC will overpower market supply. He predicts that Bitcoin has the potential to reach a six-figure price tag of over $100,000. However, Krüger also acknowledges the possibility of bearish signals in the crypto market. He suggests that inflows from spot market exchange-traded funds (ETFs) can counteract these signals and drive Bitcoin to new heights. Krüger also expects a significant correction around the April 2024 halving event and remains bullish on various crypto categories. As of now, Bitcoin is trading at $68,540.
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