Bitcoin To Hit $1 Mln Post US Fed Rate Cuts, Predicts Fred Krueger

Rupam Roy
August 15, 2024
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Bitcoin Price $1 million Fred Krueger US Federal Reserve interest rate cut

Highlights

  • Fred Krueger predicts Bitcoin to hit $1 million, citing several factors.
  • Rate cuts and inflation could drive the BTC price higher, says Krueger.
  • Despite the latest cooling inflation figures, BTC prices fell 3% today.

In a recent X post, Fred Krueger predicts Bitcoin price to hit $1 million, gaining market attention. He predicts that the potential interest rate cut by the US Federal Reserve along with a spike in inflation could aid the flagship crypto to record such growth. Besides, Krueger also reveals the potential timeline for the crypto to hit the $1 million mark, which has sparked discussions in the broader digital assets space.

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Fred Krueger Made Bitcoin Bold Prediction

Fred Krueger recently shared his thoughts on the X platform, revealing a bullish trajectory for Bitcoin’s potential. He likened the crypto to a “giant call option on inflation”. He suggests that if the US economy can maintain stability with minimal inflation for the next four years, the crypto’s price could settle between $150K and $300K.

However, he also pointed out that if the US Federal Reserve starts cutting rates, which could potentially bump up the inflation, BTC could skyrocket. He said that the crypto could hit $1 million within the next US Presidential cycle if the condition holds true.

Meanwhile, Krueger’s prediction has sparked discussions in the crypto market. It also aligns with the broader belief that BTC could benefit from the economic uncertainties and act as a hedge against inflation. In addition, the Fed’s rate cut speculations are already piqued, especially after the recent US CPI data showed that inflation has eased more than the market expectations.

According to the CME FedWatch Tool, there is a 63% chance that the US Fed will reduce interest rates by 25 bps points in September. Notably, the other 37% are betting over a 50 basis point cut at the Fed’s upcoming meeting.

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BTC Price Drops Despite Cooling Inflation Figures

Despite Krueger’s optimistic outlook and the easing inflationary pressures, Bitcoin price experienced a 3% drop, falling below $59,000 following the release of the inflation data. This decline, however, has not dampened the enthusiasm among BTC supporters who view the potential rate cuts as a catalyst for significant price growth.

Meanwhile, the anticipation of rate cuts and the subsequent impact on the crypto has led to increased speculation in the market. Investors are closely watching the Federal Reserve’s actions, as any move to lower rates could drive more interest in BTC as an inflation hedge.

Krueger’s prediction adds to the growing narrative that the crypto could serve as a safe haven in times of economic uncertainty. While the path to $1 million remains uncertain, Krueger’s forecast has undoubtedly stirred excitement and debate within the digital assets sector.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.