Bitcoin to Skyrocket to $600K as S&P 500 Crashes 50%, Says Analyst

As Bitcoin (BTC) continues to flirt with its all-time high, one analyst has laid out an interesting scenario in which the cryptocurrency skyrockets to $600,000 within 90 days while the S&P 500 collapses by 50%.

Prominent market commentator Fred Krueger detailed his prediction in a 10-part thread on X posted on May 20, painting a hyperbullish picture for BTC powered by monetary instability, institutional Bitcoin adoption, and a full-scale flight from traditional markets.

A Doomsday Scenario for Traditional Markets

Krueger is basing his thesis on a catastrophic breakdown in U.S. financial stability, beginning with a failed $200 billion Treasury auction in late July 2025. According to his projection, weak demand for U.S. debt will potentially force the Federal Reserve into emergency interventions, sparking a crisis of confidence in the dollar.

Within weeks, BRICS nations, led by economic heavyweights China and Russia, will announce a gold-backed global payment system, speeding up the decline of USD dominance and pushing BTC to $180,000.

By August, the investor claims the situation will escalate dramatically, with a major U.S. pension fund possibly halting redemptions, which will force the Fed to impose yield cap control that should cap Treasury rates at 6.5% while the dollar goes into freefall. Meanwhile, countries such as Nigeria, Turkey, and Venezuela will ostensibly start shifting foreign reserves into Bitcoin, pushing its price to $265,000, with gold potentially rallying to the $6,700 level.

The most explosive phase in the $600,000 timeline will arrive in September, when Krueger predicts several U.S. tech titans, including Apple, Tesla, and Google, will reveal huge BTC holdings, with the iPhone maker allegedly accumulating as much as 200,000 BTC since April. At this juncture, he postulates that the cryptocurrency’s price will have reached $460,000.

Additionally, the expert speculates that the IMF will make a historic move, announcing a new global reserve basket with Bitcoin making up half of it, gold covering 30%, and the remaining 20% taken up by other assets.

By early October, Krueger claims the U.S. government will be forced to convene an emergency “New Bretton Woods” summit, where it will restructure the dollar to be partially backed by BTC and gold. It is in this macro-maelstrom that he sees the king cryptocurrency hitting $600,000, gold reaching $10,400, and the S&P 500 losing half its value.

Strong Fundamentals

While Krueger’s roadmap reads like financial fiction, Bitcoin has shown some of the resilience and bullish momentum he’s basing his prediction on.

At the time of writing, the asset was trading at $107,000, up a slight 1% in 24 hours, which has put it just 1.3% away from rediscovering its all-time high. On a monthly basis, BTC is up 23.1%, and year-over-year, it has surged 51.6%.

Much of this strength comes from steady institutional demand and constrained supply. Spot Bitcoin ETFs in the U.S. have recorded eight days of positive flows out of the last ten, with total inflows topping $3.3 billion since the beginning of May, according to Farside Investors. This comes as heavyweights like MicroStrategy and Metaplanet announced additional BTC purchases, totaling nearly $850 million.