Economist and trader Alex Krüger, Bitcoin $94,821.2He stated that although it is trading approximately 14% below its historical peak, it displays a positive outlook. Krüger noted that Bitcoin has further upside potential in the future and is not yet very close to its cycle peak.
Impact of New ETFs on the Market
Krüger suggested that spot Bitcoin exchange-traded funds (ETFs) to be approved in January 2024 could lead to Bitcoin stopping following four-year cycles around halvings. He stated that this situation could make the correlation between Bitcoin and risk more sustainable.
Super Cycle and Market Conditions
Krüger noted that the supercycle does not just mean an uptrend. “It means we will have shorter fixes. If stocks and the economy are doing well, this is usually the same. “There will be smaller withdrawals and shorter durations,” he said.
Current Status of Bitcoin
Bitcoin is trading at $93,134 at the time of writing, about 10% below its expected target of around $102,000 in 2025. Krüger associated this situation in the Bitcoin market with the expectation of a super cycle.
Krüger emphasized that with the entry of ETFs into the market, the effect of Bitcoin’s halving effect decreased and thus market conditions changed. He stated that this change will positively affect Bitcoin’s future performance.
The economist said that Bitcoin could gain value more steadily if market conditions improve. However, he stated that this will be shaped depending on market fluctuations and economic factors.
The Bitcoin community and investors continue to monitor Bitcoin’s future movements, taking Krüger’s views into consideration.
Krüger’s analysis shows that innovations and economic changes in the Bitcoin market constitute important signals for investors. Bitcoin’s entry into a supercycle could present potential opportunities for long-term investors.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
