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The Daily Hodl 2024-12-10 12:45:47

Economist Alex Krüger Says Bitcoin (BTC) ‘Highly Likely’ in a Supercycle – Here’s Why

Economist Alex Krüger says Bitcoin ( BTC ) is likely in the midst of a supercycle with a local top still several months away. The trader tells his 192,500 followers on the social media platform X that Bitcoin’s fundamentals are now different than prior cycles due to expected changes in the regulatory landscape. He suggests the election of pro-crypto Donald Trump is going to cause the US’s regulatory agencies to embrace Bitcoin. Trump, who assumes office as US president next month, is picking pro-crypto figures to serve in his cabinet. “Do yourself a favor and stop comparing this cycle to prior cycles. Bitcoin is highly likely in a supercycle. The crypto industry has just experienced its most dramatic change in history, a fundamentally driven 180-degree turn. The industry went in weeks from a barely legal pariah detested by the state, to one of the top industries embraced by the state.” He says no other asset has undergone a similar market transformation in recent history, except perhaps gold. “The change is so extreme it’s hard to find comparables in modern times. Maybe gold in the 1970s is one. The 1970s was a transformative decade for gold. Nixon’s ending of the Gold Standard in 1971, dismantling Bretton Woods, sent gold surging from $35 per ounce to $850 in 1981.” Lastly, he says that Bitcoin will likely surpass its most recent all-time high price of about $103,700, which it hit on December 5th. “Expecting a major local top around March does make sense, as I’ve covered in prior posts. This would be heavily dependent on the slope of ascent, funding rates, and the broader economy. But one should not equate a major local top with the beginning of the bear market. Maybe we do get such bear market. Anything is possible. But the conditions for it are not yet there. It’s also too soon to be expecting a top. Bitcoin bull-runs always last for many months. It’s only been 33 days since Trump unleashed the Kraken.” Krüger previously said that the crypto bull run could take a break in March due to the fact that tax day in the US is on April 15th. He also disputed the notion that there will be “a top” to the ongoing Bitcoin bull market. “There is no top. That’s the whole point of the supercycle. 40% pullbacks instead. This goes on for as long as equities go on. The four-year cycle is thus dead.” Bitcoin is trading for $96,555 at time of writing, down 3.7% in the last 24 hours. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Economist Alex Krüger Says Bitcoin (BTC) ‘Highly Likely’ in a Supercycle – Here’s Why appeared first on The Daily Hodl .

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