A legendary financial market analyst has said that Bitcoin will reach $10 million in the next 20 years.
Fred Krueger shared his predictions for Bitcoin trading price in the long term and believes Bitcoin will outperform all financial assets in terms of price changes.
The current trading price of Bitcoin (BTC), the top cryptocurrency asset by market capitalization, is $47.8k, which is 31% higher than the trading price over the past three months.
As we know, the trading price of Bitcoin has skyrocketed from a few cents to $69,000 over the past 14 years through several ups and downs.
Just a month ago, the U.S. Securities and Exchange Commission (SEC) approved 12 Bitcoin spot ETF products. This means that institutional investors can invest in Bitcoin in large quantities through the stock market.
Following the approval of the Bitcoin spot ETF, some people believe that Bitcoin will no longer see significant long-term upside because large investors will manipulate trading prices. Simply put, people believe that the rising pattern of Bitcoin trading price will be like that of top stock assets.
Fred Krueger, renowned cryptocurrency analyst and former founder and chairman of Traffic Marketplace, took to X (formerly Twitter) to explain that as Bitcoin investors, we are in the early stages of Bitcoin adoption.
Fred explained that top influencers need millions of followers on social media platforms, like Cristiano Ronaldo on Instagram (621 million), The Rock (396 million) or Ariana Grande (300 million).
According to Fred, there are only a few dozen people promoting Bitcoin as true Bitcoin supporters, and you only need 100,000 followers to become a Bitcoin influencer. This fact shows that we are in the very early stages of Bitcoin adoption.
Moreover, he said that less than 1% of the world’s population invests in Bitcoin. However, in the next 10 to 20 years, there will be almost 2 billion people using Bitcoin.
Moreover, he suggested that people should not buy or sell Bitcoin because it will reach a trading price of $10 million in the next 10 to 20 years. He says 2 billion Bitcoin users represents a 1000x increase in Bitcoin adoption.
All of these facts shared by Fred are really valuable because they take into account multiple factors in lieu of actual historical data regarding Bitcoin adoption.
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