Although Bitcoin (BTC) is back below the $31,000 level it had briefly surpassed earlier, economist and trader Alex Krüger is bullish on it, setting a high price target, particularly in light of the recent spot Bitcoin exchange-traded fund (ETF) applications.
According to Krüger, the news of the world’s largest asset manager, BlackRock (NYSE: BLK), filing for a spot Bitcoin ETF was “huge and not properly priced in yet,” as he told cryptocurrency trader and investor Scott Melker, a.k.a. The Wolf Of All Streets, in a podcast streamed on July 3.
“We have very strong news of the BlackRock Bitcoin ETF likely being approved. It’s debatable if it’s going to get approved or not (…), but the point is right now, we’ve just moved 20% on this news. And the probability is definitely above 50%, if not around 75%. So the [first] point is, on one hand, the market is not positioned right for this.”
Resistance at $31,000 – $37,000
The second point, according to him, is that the maid
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