Originally published on: November 05, 2024
Recently, economist and trader Alex Krüger made a bold prediction about Bitcoin’s fair value, suggesting that the leading cryptocurrency may never fall below $60,000. With Bitcoin currently at $74,780, Krüger believes that it could sustain above the $60,000 mark, as stated in a recent Xpost.
Krüger’s statement, made on United States Election Day, has sparked interest in the cryptocurrency community. Following the election, Bitcoin experienced some volatility, hitting a low of $66,815 before bouncing back above $68,750.
Analysts are now speculating about the potential for Bitcoin to reach new all-time highs post-election. Bitfinex analysts even foresee a rally to $80,000 by the end of 2024, driven by options market activity and the outcome of the presidential race.
Considering key metrics like the 200-week moving average, which crossed the $40,000 threshold on Oct. 18, experts like Adam Back suggest that Bitcoin’s floor price may be higher than previously anticipated. Additionally, the cumulative value coin days destroyed (CVDD) metric currently stands at $26,520, indicating strong support at this level.
As the crypto market continues to evolve, all eyes are on Bitcoin and its potential price movements. Whether it’s the election outcome or market trends, the future of Bitcoin remains a topic of intense speculation. Stay tuned for more updates and insights on the ever-changing cryptocurrency landscape.
