Economist and trader Alex Kruger has expressed a bullish outlook on Bitcoin (CRYPTO: BTC), despite the cryptocurrency currently trading 13% below its all-time high.
What Happened: Kruger believes that Bitcoin has significant potential for growth and is far from reaching the peak of its cycle.
He attributes this optimism to the approval of spot Bitcoin exchange-traded funds (ETFs) in January 2024, which he suggests may alter Bitcoin’s traditional four-year halving cycles.
“The introduction of the ETF and the significant flows they bring make the correlation between risk and Bitcoin more sustainable,” Kruger said on a recent episode of the Unchained podcast.
He emphasized that current market conditions are evolving, with the halving’s impact diminishing and the presence of ETFs.
However, Kruger cautioned that a supercycle does not imply continuous upward …
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