Economist Alex Krüger believes Bitcoin’s bull run still has room to grow, even as investors grow impatient with its slower pace compared to previous cycles.
He argues that the crypto market remains in a supercycle, with Bitcoin likely to break out of its current range. However, he cautions that unlike in past bull runs, liquidity will not lift all assets equally, meaning weaker altcoins may struggle to keep up.
Krüger notes that Bitcoin has been moving in line with equities but experiencing smaller drawdowns than in previous cycles, with corrections of around 40% instead of the 80-90% seen in the past. This resilience, he suggests, reinforces the long-term bullish case for BTC.
Among altcoins, Krüger highlights Solana as the standout performer but warns that upcoming token unlocks could introduce selling pressure in the coming months. Meanwhile, Ethereum’s growth has stalled, and he believes the network needs stronger value capture from layer-2 solutions and more innovative applications to regain momentum.
While Krüger expects another altseason, he believes it will be more subdued than in previous years. Negative sentiment and poor positioning currently dominate the market, but he suggests that a shift could come unexpectedly if the right catalysts emerge. Investors, he advises, should be selective rather than expecting a broad market surge.
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