Economist Alex Krüger believes that Bitcoin (BTC) is currently in a supercycle and that a local top is still a few months away. He explains that Bitcoin’s fundamentals have changed compared to previous cycles due to anticipated regulatory changes.

Krüger suggests that the election of pro-crypto Donald Trump as US president will lead to regulatory agencies in the US embracing Bitcoin. He notes that Trump has chosen pro-crypto individuals to be part of his cabinet.

He advises against comparing the current cycle to previous ones, stating that Bitcoin is highly likely in a supercycle. He emphasizes that the crypto industry has recently undergone a dramatic change, with the industry transitioning from being barely legal and disliked by the state to being one of the top industries embraced by the state. He compares this transformation to the gold market in the 1970s when the end of the Gold Standard led to a surge in gold prices.

Krüger predicts that Bitcoin will surpass its most recent all-time high price of around $103,700, which was reached on December 5th. He suggests that a major local top may occur around March, depending on factors such as the rate of ascent, funding rates, and the broader economy. However, he cautions that a major local top does not necessarily signal the beginning of a bear market. He believes that Bitcoin bull runs typically last for many months and asserts that the four-year cycle is dead.

Krüger previously mentioned that the crypto bull run might pause in March due to the US tax day falling on April 15th. He also rejects the idea that there will be a definite top to the ongoing Bitcoin bull market, instead predicting 40% pullbacks periodically.

As of the time of writing, Bitcoin is trading at $96,555, representing a 3.7% decrease in the last 24 hours.

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