Bitcoin‘s (CRYPTO: BTC) price hit a record high of nearly $124,500 on Aug. 14. That marked a gain of more than 110% over the previous 12 months. It’s pulled back to about $113,000 as of this writing, but some analysts expect it to soar even higher through the end of the year.
Back in May, Fred Krueger, a market analyst and mathematician, predicted Bitcoin’s price would surge to $600,000 by October. That’s a bold forecast that surpasses my own estimate for Bitcoin reaching $200,000 within the next year, but does it hold any water? Let’s compare the current catalysts for Bitcoin to Kreuger’s bullish outlook to decide.
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