Bullish Bitcoin Analyst Expects Dramatic Rally Ahead

Summary of Article

  • Economist and crypto analyst Alex Krüger is bullish on Bitcoin (BTC), predicting a dramatic rally could ignite if BTC convincingly enters the liquidity air pocket between $31,000 and $37,000.
  • Krüger also points out the importance of the BlackRock spot BTC exchange-traded fund (ETF) application and expects BTC to start moving in sync with other assets like equities.
  • The market is currently not positioned for this news, however it is huge and not priced in yet.

Alex Krüger Bullish on Bitcoin (BTC)

Economist and crypto analyst Alex Krüger is bullish on Bitcoin ( BTC ), saying that the king crypto could mount strong rallies in the near future. In a new Wolf of All Streets stream, Krüger explains the importance of the BlackRock spot BTC exchange-traded fund (ETF) application. He also says that technically speaking, Bitcoin has a liquidity air pocket between $31,000 and $37,000 from when crypto markets collapsed last year during the disintegration of the Terra ecosystem. If BTC convincingly enters that range, Krüger says a rather dramatic rally could ignite.

BlackRock Spot BTC Exchange-Traded Fund

Krüger emphasizes the importance of the BlackRock spot BTC exchange-traded fund (ETF) application. The probability of approval for this ETF being approved is debatable but around 50% – 75%. The market isn’t currently positioned for this news but it still stands as huge news which hasn’t been properly priced in yet.

Liquidity Air Pocket Between $31k-$37k

Bitcoin has a liquidity air pocket between $31,000 and $37,000 from when crypto markets collapsed last year during the disintegration of the Terra ecosystem. If Bitcoin convincingly enters that range then there will be room to run according to Krüger. This would result in quite a dramatic rally!

Regulatory Pressure

There has been some regulatory pressure causing decorrelation from other risk assets however Krüger predicts Bitcoin will start moving more in sync with other assets like equities once again.

Conclusion
Overall Alex Kruger remains bullish on Bitcoin despite regulatory pressure expecting it to enter a liquidity air pocket soon resulting in further price increase due to its huge potential set by Blackrock’s ETF application which has not yet been fully priced into cryptocurrency markets!

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