• Are Bitcoin Price Predictions of $100,000 Realistic? Cryptocurrency markets are showing remarkable strength despite the stock market meltdown, according to an analyst

  • A leading crypto analyst and economist is examining fundamental factors that, he believes, will determine whether Bitcoin will reach $100,000 by the end of the year.

    Alex Krüger tells his 95,000 Twitter followers that a $100,000 Bitcoin price tag in three months is a tough sell given the Federal Reserve Bank of the United States’ proclivity to reduce the money supply in order to control inflation.

    If a Bitcoin exchange-traded fund (ETF) is approved, Krüger says he will immediately change his mind.

    “I’m seeing a lot of traders calling for $100,000 by the end of the year, which makes no sense to me given the Fed’s hawkish stance – an ETF approval would change that, but I don’t see that happening in 2021. We’ll find out very soon.

    On approval, I’ll buy BTC at market price.“

    Krüger is also interested in the performance of the cryptocurrency market, which he sees as showing “remarkable strength” in the midst of the stock market sell-off.

    “In light of the continued bloodbath in equity markets, where traders have been looking for reasons to sell, cryptocurrency assets have shown remarkable strength in the last two days. Month-end fund inflows are most likely to blame.”

    Despite threats from macro fundamental factors, the crypto analyst believes Bitcoin’s chart is promising.

    “According to the chart, you’ll need to be very long here. According to the macro, the Fed and equity traders are concerned about a repeat of 2018.

    I’m basing my decision on the graph.

    If BTC sees $41,000 again for whatever reason, expect the price to drop further.”

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