Alex Kruger: BTC will exceed $ 100,000

Popular crypto analyst and financier Alex Kruger believes that bitcoin BTC $58,634.83 Bitcoin -2.51% Market capitalization $1.16 trillion VOL. 24 hours $2.96 billion is in the midst of a prolonged bull market, where traders and investors are quick to offset any pressure from sellers.

Krueger tells his 166,100 followers on platform X that bitcoin is likely to «exceed market supply on its way to a six-figure price.»

Although the expert emphasizes that the main cryptocurrency is beginning to show bearish signals, he notes that the influx of funds from exchange-traded funds (ETFs) could negate these indicators and push bitcoin to even greater heights.

«Bitcoin is in a supercycle (short, shallow drops). Macroeconomic indicators still look good. The cryptocurrency markets are hot and euphoric. Inflows into ETFs can support and stimulate further price growth,» the crypto expert comments on the situation.

Kruger also predicts that bitcoin could rise to $ 85,000 and then devalue by 35%: «You can see something like this: $ 85,000 => $ 55,000 => $ 120,000 => $ 85, 000.»

As for the timing of BTC’s corrective movement, the economist believes that it could happen closer to the April halving, when the reward for BTC miners will be halved: «A big correction around the halving makes sense. A big correction around the ETH ETF drop makes sense. Regardless of the path, we expect continued growth, higher prices by the end of the year, and significantly higher prices by the end of the cycle… Round numbers like $ 100,000 should be surpassed.»

According to the analytical tracker CoinMarketCap, at the time of writing, the flagship virtual coin has crossed the $ 70,681 mark. The total number of coins circulating on the market amounted to $ 1.3 trillion. Traders executed daily trading transactions exceeding $ 41.3 billion, an increase of almost 60%. Bitcoin’s market share increased to 52.1%.