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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities
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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Here Are 5 Reasons To Be Bullish On Bitcoin, Analyst Says

Semilore Faleti
Semilore Faleti
9 months ago
3 mins read
Bitcoin

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Market analyst and Bitcoin (BTC) maxi Fred Kreuger has revealed five top reasons investors should purchase the premier cryptocurrency. In a video post on X on Saturday, Kreuger described Bitcoin as a favorable short-term and mid-term investment, backing the asset to remain profitable over the next 12 months.  The price of Bitcoin has recently returned above $67,000 following a 0.58% increase in the last day. This slight gain allows the crypto market leader to maintain its positive performance over the last week.

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Investing In BTC Now Is A Massive Buy, Kreuger Says

According to Fred Kreuger, investors should be looking to acquire Bitcoin for the following reasons. Firstly, the analyst highlights the pro-crypto stance of the former US President and Republican presidential candidate, Donald Trump. 

Kreuger describes Trump as a crypto ally stating the politician is pro-BTC, pro-mining, and also open to the adoption of the digital asset as a strategic reserve. Like many enthusiasts, he reckons that the election of Trump could provide the much-needed support of Bitcoin from the US government. 

Moving on, Fred Kreuger states there is a 100% chance the US Federal Reserve will implement a rate cut in September which will grant investors leverage to seek volatile assets such as Bitcoin. Moreover, if Trump emerges as president in November, anticipate further rate cuts, projecting an estimate of 300 basis points. 

Furthermore, the Bitcoin maxi also discusses the potential impacts of the spot Bitcoin ETFs. According to Kreuger, these ETFs are still in their rollout phase with traditional financial titans such as Morgan Stanley and Wells Fargo yet to offer them beyond their high-net-worth clients. Eventually, Kreuger believes these ETFs, currently worth over $17 billion, will be added to the general trading platforms of these banks which could result in higher levels of inflows. 

Another reason for Kreuger’s bullish stance on Bitcoin is the crypto bull market cycle which he postulates is already halfway gone. However, in the remaining one-and-a-half years of this cycle, Kreuger believes Bitcoin could potentially double its current market price based on historical price data. However, this projection is not set in stone, with the market analyst stating BTC could produce a 4x or 6x price gain.

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Michael Dell, An Emerging Powerful Bitcoin Ally

Finally, Fred Kreuger postulates that Michael Dell, an American billionaire and CEO of Dell Incorporated is likely also acquiring Bitcoin following his recent support of the asset in the past few weeks. With a net worth of $99.2 billion, the analyst theorizes that Dell’s potential voyage into the BTC market should serve as a bullish signal for investors.

At the time of writing, Bitcoin (BTC) is trading at $67, 207 with a 14.41% gain in the last week. Meanwhile, the asset’s daily trading volume is down by 49.29% and valued at $18.86 billion.

Bitcoin
BTC trading at $67,180 on the daily chart | Source: BTCUSDT chart on Tradingview.com
Featured image from Depositphotos, chart from Tradingview
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Semilore Faleti
Semilore Faleti

Semilore Faleti

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Read more

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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