Economist Alex Kruger, who closely tracks the cryptocurrency market, predicted a Bitcoin price target of $120,000 in June.
In his statement regarding his social media accounts, Krüger turned his attention to two important developments behind this growing expectation.
First of all, Krüger said the $5 billion FTX distribution, scheduled for May 30, could bring great momentum to the market, and this time he turned his attention to the fact that key creditors will receive payments. He said the development could be a positive catalyst in the market.
Meanwhile, Krüger said the 90-day tariff deferral, which ends on July 9, could put pressure on the market, saying “depending on news flows from the White House, the market could start worrying about tariffs again two to three weeks ago.”
Meanwhile, another analyst, Joao Wedson, argued that explaining recent price movements in the institutional demand discourse could be misleading. “Relax, the price is simply liquidating the bears. We settled the Bulls last week. The market is always moving towards liquidity,” Wedson said the current fluctuations are normal.
*This is not investment advice.
