Economist and trader Alex Krüger expressed optimism about Bitcoin's future, despite its current trading price being 14% lower than its historical peak.
Role of New ETFs in Bitcoin's Development
Krüger indicated that the anticipated approval of spot Bitcoin exchange-traded funds (ETFs) in January 2024 might alter Bitcoin’s historical price patterns, allowing it to break free from its usual four-year cycles linked to halving events. This change could foster a more stable correlation between Bitcoin and overall market risk.
Understanding the Supercycle for Bitcoin
Krüger explained that a super cycle is not solely characterized by continuous price increases; rather, it entails shorter market corrections. He noted that positive economic conditions typically lead to smaller and quicker pullbacks, paving the way for more sustained growth.
Bitcoin's Future: Opportunities and Risks
Currently, Bitcoin trades around $93,134, which is approximately 10% below the anticipated target of $102,000 set for 2025. Krüger connects this state to the potential onset of a super cycle. Traders and Bitcoin enthusiasts are closely monitoring Krüger’s predictions, as they may indicate pivotal shifts in the market.
The introduction of ETFs alongside economic adjustments could present valuable opportunities for long-term participants looking to capitalize on Bitcoin’s potential growth.
