Bitcoin Bull Run Far From Over, Says Crypto Trader Alex Krüger: 'We're Very Far Off On The Wirehouse Side'
Portfolio Pulse from Benzinga Neuro
Crypto trader Alex Krüger predicts the Bitcoin bull market is far from over, attributing potential growth to the underutilized institutional sales process of Bitcoin ETFs. Krüger highlights that only 20% of the institutional sales mechanism for Bitcoin ETFs is functional, with expectations of significant acceleration by year-end. He notes the slow adoption by advisors but mentions Merrill Lynch and UBS preparing to offer ETFs to clients, signaling a broader institutional embrace. The approval and trading of spot Bitcoin ETFs since January 10 have already attracted new investors and contributed to Bitcoin's recent price surge.
March 18, 2024 | 11:09 am
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Bitcoin's bull market is expected to continue, driven by the underutilized institutional sales process of Bitcoin ETFs and the recent approval of spot Bitcoin ETFs.
The analysis is based on Alex Krüger's insights into the current state of Bitcoin ETFs' institutional sales and their potential for growth. With only 20% functionality and expected acceleration, along with the recent approval of spot Bitcoin ETFs attracting new investors, there's a strong basis for predicting continued growth in Bitcoin's market.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100