Bitcoin price has climbed above the important $105,000 resistance and is now eyeing to break above the $106,000 mark. But will Bitcoin hit a new all-time high soon? Analysts believe this could happen soon, especially as the total crypto market nears a $4 trillion cap. Macro events like the Fed’s June rate decision and Trump’s July tariffs could add fuel to the rally.
Wall Street expert Fred Krueger has doubled down on his Bitcoin prediction and says that it could start a big rally within 90 days.
According to him, there won’t be enough buyers for a $200 billion U.S. Treasury auction around July 21, which could force the Fed to take emergency action. This could send Bitcoin soaring to $ 158 K-$165 K within 24 hours.
BRICS May Announce Gold-BTC Payment System by July
On July 25, Krueger expects the BRICS countries to announce a new global payment system using gold and Bitcoin, which would reduce their reliance on the U.S. dollar. Then, even if the Fed Chair defends the USD to be robust, the world would not buy it. He predicts BTC will hit $180K first, then jump to $215K after the Fed introduces yield curve control around August 4.
Mid-August Forecast: Countries Shift Reserves to Bitcoin, $265K in Sight
By mid-August, there might be big moves like Germany backing the euro with 10% gold. Countries like Venezuela and Nigeria may shift reserves into Bitcoin, and Tether may launch a Bitcoin-backed stablecoin. These events could push Bitcoin to a massive $265,000.
By early September, the Fed will start looking into launching a digital dollar as Treasury yields shoot past 8.5%, which will force the Fed to step in again. This move could push Bitcoin to $390,000 in just a week. By mid-September, Krueger expects tech giants like Apple, Tesla, and Google to start adding Bitcoin to their balance sheets.
With more companies and even entire Latin American countries adopting BTC, the prices could soar to $460,000.
Things don’t stop here. By late September, the IMF may launch a new global reserve basket where Bitcoin will make up 50% of it, pushing the price to $525,000. In early October, he expects the US to step in, restructuring the dollar to be backed 25% by Bitcoin and 25% by gold.
It will also launch a CBDC as the Fed’s balance sheet stands at $44 trillion. Bitcoin would then hit $600,000, and Gold would then stand at $10,400.
BTC Gains Steam as Investors Ditch Gold Amid FOMO
Bitcoin is definitely stealing the spotlight as investors shift from traditional safe havens like gold. With market fears fading and FOMO rising, many are now betting on BTC over gold. Bloomberg analyst Eric Balchunas also reiterated the same sentiment.
Analyst Ali Martinez recently shared that Bitcoin hasn’t broken out in a strong upward move yet. He points out that on the lower timeframes, Bitcoin is forming an ascending triangle, a chart pattern where the price makes higher lows while facing resistance at the same level. It is currently trading at $106,962.
