Market analyst and bitcoin (btc) CEO Fred Kreuger has revealed five key reasons why investors should buy the leading cryptocurrency.x.com/dotkrueger/status/1814715104551968805″ target=”_blank”> video post On Saturday, at x, Kreuger described bitcoin as a favorable short- and medium-term investment, backing that the asset will remain profitable over the next 12 months. The price of bitcoin has recently returned to above $67,000 after a 0.58% increase in the last day. This slight gain allows the cryptocurrency market leader to maintain its positive performance over the past week.
Investing in btc now is a major buy, says Kreuger
According to Fred Kreuger, investors should look to acquire bitcoin for the following reasons. Firstly, the analyst highlights the pro-cryptocurrency stance of former US President and Republican presidential candidate Donald Trump.
Kreuger describes Trump as a crypto ally, saying the politician is a supporter of btc and mining, and is also open to adopting the digital asset as a strategic reserve. Like many enthusiasts, he believes Trump’s election could provide much-needed support for bitcoin from the US government.
Moving on, Fred Kreuger claims that there is a 100% chance that the US Federal Reserve will implement a rate cut in September, which will give investors leverage to seek out volatile assets like bitcoin. Furthermore, if Trump emerges as president in November, he anticipates further rate cuts, projecting an estimate of 300 basis points.
Additionally, the bitcoin article also discusses the potential impacts of spot bitcoin ETFs. According to Kreuger, these ETFs are still in their launch phase and traditional financial titans like Morgan Stanley and Wells Fargo have yet to offer them beyond their high net worth clients. Kreuger believes that over time, these ETFs, currently worth over $17 billion, will be added to the general trading platforms of these banks, potentially leading to higher levels of capital inflows.
Another reason for Kreuger’s bullish stance on bitcoin is the cryptocurrency market’s bull cycle which he claims is already halfway over. However, in the remaining year and a half of this cycle, Kreuger believes that bitcoin could potentially double its current market price based on historical price data. However, this projection is not set in stone as the market analyst claims that btc could yield a 4x or 6x price gain.
Michael Dell, a powerful emerging bitcoin ally
Lastly, Fred Kreuger posits that Michael Dell, American billionaire and CEO of Dell Incorporated, is likely also acquiring bitcoin following his recent support for the asset over the past few weeks. With a net worth of $99.2 billion, the analyst theorizes that Dell’s potential foray into the btc market should serve as a bullish signal for investors.
At the time of writing this article, bitcoin (btc) is bitcoin/” target=”_blank”>trade The cryptocurrency's price stood at $67,207, up 14.41% over the past week. Meanwhile, the asset's daily trading volume is down 49.29% and is valued at $18.86 billion.
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