A well-known economist believes that the Bitcoin (BTC) and cryptocurrency bull market still has potential for further upward movement. Alex Krüger, who has a following of 205,000 on the social media platform X, states that crypto investors are feeling disappointed because the current market cycle appears to be different from previous ones in terms of duration and the extent of gains. However, Krüger argues that investors should take a broader perspective because he believes that crypto is in the midst of a supercycle.

Krüger states, “BTC is currently trading within a range, but I believe it will eventually break out to the upside. The theory of a supercycle remains valid. While this theory applies to Bitcoin and the entire cryptocurrency market (excluding BTC and stablecoins, which have a considerably higher market capitalization), most older altcoins do not benefit from it on a sustained basis. Therefore, investors should not expect a significant surge in liquidity that would drive all cryptocurrencies higher for an extended period. It is important to be selective.”

According to Krüger, a supercycle does not imply that Bitcoin will continue to rise without experiencing significant pullbacks. He states, “My definition has been proven correct: BTC tends to move in line with equities, but with smaller and shorter drawdowns, such as 40% instead of 80%-90%.”

When it comes to Solana (SOL), Krüger refers to it as the “fastest horse.” However, he warns that the altcoin will see a substantial increase in available supply in the next two months, which will have an impact on its price.

Regarding Ethereum (ETH), Krüger suggests that the leading layer-1 protocol needs a boost to generate bullish momentum. He states, “Ethereum needs intervention. It requires increased value capture from layer-2 solutions and the addition of more successful applications running on its network.”

In terms of the broader altcoin market, Krüger anticipates the emergence of a new altseason, although he believes it will not be as explosive as previous ones. He states, “Expect a new alt season at some point, but it will be shorter and smaller compared to previous ones. The current positioning and sentiment in the market are highly negative, and the timing of the next altseason is uncertain in the absence of clear catalysts. It could emerge unexpectedly.”

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