Crypto currency analyst: Bitcoin will rise with Bakkt, collapse with ETF denial
Alex Krüger, a well-known crypto money analyst, claimed that Bitcoin will be on the rise with Bakkt but will fall with the ETF denial.
Alex Krüger, a well-known crypto money trader and technical analyst, said that Bakkt will lead Bitcoin’s recovery during 2018 and the first quarter of 2019.
Then Krüger said that if approved, the rejection of the VanEck / SolidX Bitcoin ETF, which will be listed by the CBOE, will lead to the collapse of the Bitcoin, which could lead to the $ 6,000 support level of the leading crypto money, and in the worst case it is likely to decline to $ 4,000.
In the continuation of the Kröger, he argued that the halftone of Bitcoin would bring a bull race for the rest of 2019 and for 2020.
The world’s largest stock exchange New York Stock Exchange (NYSE), the parent company of ICE, a tightly regulated cryptographic trading platform developed by ICE, aims to create an ecosystem that enables both individual and institutional investors to invest safely in the crypto money market. As of December 12, Bakkt is expected to introduce the crypto currency futures market and increase the liquidity of Bitcoin.
On the other hand, the US Securities and Exchange Commission (SEC) must make a decision regarding the CBOE Bitcoin ETF by March 2019. This decision is likely to come at an earlier date. The Commission will make a statement by 5 November. There may be a rejection or admission decision for ETF on or before this date. Another possibility is that the commission will postpone the decision to the next date. In case of approval of the Bitcoin ETF, Bitcoin is thought to have a significant capital inflow.