A Bitcoin enthusiast and market analyst, Fred Kreuger, thinks Bitcoin is a great investment, both in the short and long term. He thinks it will continue to make money for investors over the next year.
Reasons to be Bullish on Bitcoin
Here are Kreuger’s top reasons why you should buy Bitcoin:
- Trump’s Support: Kreuger believes that Donald Trump’s potential return to the White House could be a huge boost for Bitcoin. He thinks Trump is pro-Bitcoin, pro-mining, and even open to using Bitcoin as a strategic reserve for the US government.
- Interest Rate Cuts: Kreuger expects the US Federal Reserve to cut interest rates in September. This would make investors more likely to invest in volatile assets like Bitcoin. He also predicts more rate cuts if Trump becomes president again.
- Spot Bitcoin ETFs: Spot Bitcoin ETFs are still being rolled out, but Kreuger thinks they’ll eventually be available to everyone through big banks like Morgan Stanley and Wells Fargo. This could lead to a lot more people buying Bitcoin.
- Bull Market Cycle: Kreuger believes the Bitcoin bull market is already halfway through. He thinks Bitcoin could double its current price in the next year and a half, but it could even go up 4x or 6x!
- Michael Dell’s Influence: Michael Dell, the billionaire CEO of Dell Incorporated, has recently shown support for Bitcoin. Kreuger thinks Dell might be buying Bitcoin himself, and this could be a good sign for other investors.
Bitcoin’s Current Performance
Right now, Bitcoin is trading at around $67,207. It’s up about 14% in the last week, but its daily trading volume has dropped by almost 50%.
