Fred Krueger shared his prediction for the Bitcoin trade price for the long term & he believes that Bitcoin will outperform all the financial assets in terms of price change.
The current trade price of Bitcoin (BTC), the top crypto asset by market cap, is $47.8k & this trade price is 31% higher over the last 3 months of trade price.
As we know, the trade price of Bitcoin from a few cents to $69k surged over the last 14 years, following multiple ups & downs.
Just a month ago, the United States Securities and Exchange Commission (SEC) approved a dozen Bitcoin spot ETF products which means institutional investors can invest in Bitcoin via stock markets in bulk.
After the approval of the Bitcoin spot ETF, some people believe that Bitcoin will no longer show big rallies in the long term because the big investors will manipulate the trade price. In short, people believe increment patterns of the trade price of Bitcoin will be just like top stock assets.
Fred Krueger, a renowned crypto analyst and the former founder and chairman of Traffic Marketplace, took to X (formerly Twitter) to explain that we, as a Bitcoin investor, are in the initial phase of Bitcoin adoption.
Fred explained that we need to have millions of followers on social media platforms to be a top-level influencer just like Cristiano Ronaldo on Instagram (621 Million), The Rock (396 Million) or Ariana Grande (300 Million).
According to Fred, only a few dozen people are promoting Bitcoin as true Bitcoin proponents and people need only 100k followers to be a Bitcoin influencer. This fact shows that we’re in a very early phase of Bitcoin adoption.
Furthermore, he said that only less than 1% of the world population invests in Bitcoin. But in the next 10 to 20 years, there will be nearly 2 Billion people who will use Bitcoin.
Furthermore, he suggested people buy Bitcoin & not sell because Bitcoin is going to touch the trade price of $10 million in the next 10 to 20 years. He says that 2 billion Bitcoin users represents 1000x the adoption of Bitcoin.
All these shared facts by Fred are really worthy because he took multiple factors under consideration on behalf of real past data regarding Bitcoin adoption.