Fred Krueger: Bitcoin may rise to $ 600,000 amid Fed decisions

Bitcoin BTC $110,794.10 Bitcoin 4.07% Market capitalization $2.2 trillion VOL. 24 hours $5.79 billion has overcome an important mark of $ 105,000 and is trying to gain a foothold above $ 106,000, which has increased expectations of new historical highs. Analysts believe that the main cryptocurrency may show explosive growth in the coming months, especially as the total market capitalization approaches $ 4 trillion and global macro events influence it.

Wall Street expert Fred Krueger predicts a large-scale rally within 90 days. He points to possible difficulties with the placement of $ 200 billion of US Treasury bonds at the end of July. According to him, if the Fed is forced to intervene, the BTC rate could skyrocket to $ 158,000−165,000 in just a day.

Kruger also expects that on July 25, the BRICS countries will announce the creation of a new payment system based on gold and bitcoin. This will be a challenge for the US dollar. He predicts that BTC will quickly reach $ 180,000 and then $ 215,000 after the introduction of yield curve controls in the US in early August.

By mid-August, geopolitical shifts are possible: for example, Germany may back the euro with gold, and countries like Venezuela or Nigeria may transfer part of their reserves to BTC. In addition, a stablecoin backed by bitcoin is expected to be launched. Taken together, this could raise the price of the cryptocurrency to $ 265,000.

According to Krueger, in September, the Fed will start working on the launch of the digital dollar, which, amid a jump in bond yields to more than 8.5%, will only increase pressure on the financial system. In this case, the BTC exchange rate may rise to $ 390,000, and after Apple, Tesla, and Google may buy bitcoins, it may reach $ 460,000.

In conclusion, the forecast covers global changes: by the end of September, the IMF may create a new reserve basket with a 50% share of BTC, and in October, the United States may announce a new dollar structure backed by 25% bitcoin and 25% gold. In this scenario, the value of BTC will reach $ 600,000 and gold will reach $ 10,400.

In the short term, bitcoin is forming an ascending triangle, a pattern that could precede a new breakout. At the time of publication, BTC is trading at $ 106,962, while investors are gradually switching from gold to cryptocurrencies, increasing the FOMO effect (fear of missing out).