‘Top’ cryptocurrency analyst and economist Alex Krüger predicts that “Bitcoin (BTC) ETF (Exchanged Exchange Fund) will have to be approved to reach $100,000 by the end of the year.”
According to the Daily News, a cryptocurrency media outlet on the 2nd (local time), Alex Kruger told 95,000 Twitter followers that “the stock market crash has made the crypto market remarkably strong. But the US Federal Reserve is trying to curb inflation.” Due to the hawkish (preferring austerity) nature of (the Fed), it is difficult for Bitcoin to reach $100,000 in three months.”
Seeing plenty traders calling for $100K by year end, which makes little sense to me given a hawkish Fed.
— an ETF approval would change that, though don’t see that happening in 2021. We shall know very soon.
– Alex Krüger (@krugermacro) October 1, 2021
“If a Bitcoin ETF is approved (though that won’t happen in 2021), I will immediately change my mind and buy Bitcoin,” he said.
“Despite the threat of macro-fundamental factors, the Bitcoin chart is currently very favorable for a long entry,” he said. He added.
Earlier on the 27th (local time), Forbes, a leading US economic magazine, said, “It is predicted that the US Securities and Exchange Commission (SEC) will make a decision to approve the launch of a Bitcoin ETF as early as next month.” The time to reach $100,000 may be advanced.”
Meanwhile, the US Securities and Exchange Commission (SEC) announced on the 29th of last month (US time) that it would extend the review period for four Bitcoin ETF approval applications by 45 to 60 days.
ETFs whose approval has been delayed are products applied by Global X, WisdomTree, Kryptoin, and Valkyrie. With this measure, the approval of Global X’s products will be announced on November 21st, Valkyrie on December 8th, Wisdom Tree on December 11th, and Cryptophin on December 24th.
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