Bitcoin maximalist predicts $100K for BTC in April, but…

Bitcoin [BTC] has maintained a double-digit rally since This fall 2023. The main cryptocurrency by market cap was up 56.8% in This fall 2023. Within the present quarter, Q1 2024, BTC posted +60% on the time of writing based mostly on information from TradingView.

Commenting on BTC’s sustained rally, Fred Krueger, a serial tech investor, former Wall Road dealer and Bitcoin maximalist, noted that;

“Bitcoin’s risk-reward ratio is the most effective it’s ever been.”

On BTC value prospects earlier than and after the halving occasion, Krueger said that the asset may hit $90K – $100K by April.

So, the near-term estimated goal is round $100K. For long-term prospects, the investor expects $200k – $1M by the following halving cycle on the finish of 2028.

The ultimate goal throughout hyperbitcoinization is about $10 million – $20 million within the subsequent 20-30 years. Krueger states that Bitcoin’s adoption is at the moment round 1% when gauged towards a world inhabitants of about 8 billion.

An uptick in adoption will see most issues priced in Bitcoin. Krueger added;

“Bitcoiners like me consider that the twenty first Century goes to be dominated by Bitcoin as an precise cash. We consider that fifty years from now, most issues are going to be priced in Bitcoin.”

Bitcoin’s key danger issue

Nonetheless, the rosy outlook for BTC’s future faces one major danger. In keeping with Krueger, Ethereum [ETH] is the principle danger to Bitcoin.

“Ethereum has extra programmability than Bitcoin, particularly if you wish to do full tokenization of real-world property. BlackRock talks quite a bit about tokenization as their endgame.”

As such, a scaled real-world asset tokenization situation will profit Ethereum and threaten Bitcoin. 

Curiously, Krueger dismissed regulatory strain as a menace to Bitcoin. He famous that thousands and thousands have entry to Bitcoin publicity by BTC ETFs, and the US authorities will hesitate to criminalize the ETFs. 

Moreover, BTC can nonetheless survive US regulatory strain identical to it did following China ban in 2020. 

Learn Bitcoin (BTC) Worth Prediction 2024- 2025

BTC dips under $70K

Within the meantime, Bitcoin confronted headwinds towards the weekend and noticed heightened short-term promote strain from 14th March. On the time of writing, BTC traded at $68.4K, down from a current excessive of $73.7K.

As per LookOnChain information, a wise cash evaluation platform, the promoting strain primarily got here from whales’ strikes on the Binance change. The platform established that $329M value of BTC was moved to Binance for offloading earlier than the dump.