Big Bullish Economist Shares New Predictions for Bitcoin Price! "In June..."
Economist Alex Krüger, closely followed by the cryptocurrency markets, predicted a price target of $120,000 for Bitcoin in June.
In a statement made on his social media account, Krüger highlighted two important developments behind this bullish expectation.
First, Krüger noted that the $5 billion FTX distribution planned for May 30 could give the market significant momentum, emphasizing that this time large creditors would receive payments. He stated that this development could be a positive catalyst in the market.
In contrast, Krüger mentioned that the 90-day customs duty deferral, which will end on July 9, could create potential pressure on the market, saying, "Depending on the news flow from the White House, markets may start to worry about customs duties again 2-3 weeks in advance."
On the other hand, another analyst, Joao Wedson, argued that explaining the recent price movements solely with institutional demand narratives could be misleading. Wedson stated, "Stay calm, the price is just liquidating bears. It had also liquidated bulls last week. The market always moves towards liquidity," emphasizing that the current volatility is normal.
